Deferred Tax Liabilities Sample Clauses

Deferred Tax Liabilities. Neither the Company nor any of its Subsidiaries will be required to include any item of income in, or exclude any item of deduction from, taxable income for any Post-Closing Tax Period as a result of any: (i) change in method of accounting for a Taxable period ending before the Closing Date; (ii) “closing agreement” as described in Section 7121 of the Code (or any corresponding or similar provision of state, local, or non-U.S. Tax Law) executed on or before the Closing Date; (iii) installment sale or open transaction disposition made on or before the Closing Date; (iv) prepaid amount received on or before the Closing Date; or (v) election made (or contemplated to be made) under Section 108(i) of the Code.
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Deferred Tax Liabilities. The amount of the Deferred State Income Taxes payable reflected in the POC Companies' account number 230010 and the Deferred Federal Income Taxes payable reflected in the POC Companies' account number 230021 shall be excluded from the Balance Sheet, the Closing Balance Sheet and the True-Up Balance Sheet.
Deferred Tax Liabilities. The increase in non-current deferred tax liabilities is due to a $1.3 billion deferred tax liability for the tax impact of the gain recognized for the excess of the fair value of MCBC’s pre-existing 42% interest in MillerCoors over its carrying value (see Note 2 for further discussion), offset by a reduction of $94.6 million as a result of the tax effect of the settlement of the unfavorable component of a water supply agreement between MCBC and MillerCoors that will be reacquired by MCBC as part of the pending Acquisition (see Note 4(i)). The total pro forma adjustment to non-current deferred tax liabilities is summarized as follows: Deferred tax liability for gain on pre-existing 42% interest in MillerCoors $ 1,254.9 Tax effect of settlement of reacquired contractual right (94.6 ) Total pro forma adjustment to non-current deferred tax liabilities $ 1,160.3 Separately, the reduction to current deferred tax liabilities was due to the reclassification of an existing MCBC current deferred tax liability of $155.5 million to accounts payable and other current liabilities (see Note 4(c)).
Deferred Tax Liabilities. Except as reflected in the Most Recent Financial Statements (including the schedules thereto) of the Acquired Companies, none of the Acquired Companies shall be required to include in a taxable period ending after the Closing taxable income attributable to income that accrued (for purposes of their Most Recent Financial Statements) in a prior taxable period but was not recognized for Tax purposes in any prior taxable period as a result of the installment method of accounting, the completed contract method of accounting, the long-term contract method of accounting, the cash method of accounting or Section 481 of the Code or comparable provisions of state or local Tax Law, domestic or foreign.
Deferred Tax Liabilities. Balance Recognised in Recognised Balance January profit and loss in equity December 01, 2014 31, 2014 (Rupees in '000) Debit / (credit) balances arising on account of Accelerated tax depreciation allowance (18,985) (10,859) - (29,844) Provision for staff retirement gratuity and compensated absences 11,808 (2,186) 858 10,480 Finance lease arrangements (200,147) 23,303 - (176,844) Share of profits from Associates (617,177) (161,111) (25,940) (804,228) Provision against non-performing advances 597,173 (49,560) - 547,613 (Deficit) on revaluation of 'available-for-sale' securities (29,529) - (164,959) (194,488) (256,857) (200,413) (190,041) (647,311) Balance January 01, 2013 Recognised in profit and loss Recognised in equity Balance December 31, 2013 ----------------------------(Rupees in '000)------------------------------ Debit / (credit) balances arising on account of Accelerated tax depreciation allowance (23,218) 4,233 - (18,985) Provision for staff retirement gratuity and compensated absences 12,124 (3,399) 3,083 11,808 Finance lease arrangements (252,248) 52,101 - (200,147) Share of profits from Associates (508,759) (132,233) 23,815 (617,177) Provision against non-performing advances 580,778 16,395 - 597,173 Surplus / (deficit) on revaluation of 'held-for-trading' securities 2 (2) - - Surplus / (deficit) on revaluation of 'available-for-sale' securities (40,921) - 11,392 (29,529) (232,242) (62,905) 38,290 (256,857) 13. OTHER ASSETS 2014 2013 (Rupees in '000) Income / mark-up accrued in local currency 349,829 117,886 Advances, deposits, prepayments and other receivables 37,339 16,191 Advance taxation (payment less provisions) 256,904 411,656 644,072 545,733 14. BORROWINGS In Pakistan 3,557,518 5,042,353 42 Annual Report 2014
Deferred Tax Liabilities. No payment of any amount attributable to a deferred tax account will be made by the Subsidiaries to the Company. This provision covers deferred tax liabilities, as well as any deferred portion of income taxes of the Company attributable to the Subsidiaries.

Related to Deferred Tax Liabilities

  • Tax Liabilities The Investor understands that it is liable for its own tax liabilities.

  • Tax Liability The Authorized Participant shall be responsible for the payment of any transfer tax, sales or use tax, stamp tax, recording tax, value added tax and any other similar tax or government charge applicable to the creation or redemption of any Basket made pursuant to this Agreement, regardless of whether or not such tax or charge is imposed directly on the Authorized Participant. To the extent the Trustee, the Sponsor or the Trust is required by law to pay any such tax or charge, the Authorized Participant agrees to promptly indemnify such party for any such payment, together with any applicable penalties, additions to tax or interest thereon.

  • Allocation of Tax Liabilities The provisions of this Section 2 are intended to determine each Company's liability for Taxes with respect to Pre-Distribution Periods. Once the liability has been determined under this Section 2, Section 5 determines the time when payment of the liability is to be made, and whether the payment is to be made to the Tax Authority directly or to another Company.

  • Amended Tax Returns (a) Subject to Section 4.4 and notwithstanding Section 2.1 and Section 2.2, a Party (or its Subsidiary) that is entitled to file an amended Tax Return for a Pre-Distribution Tax Period or a Straddle Tax Period for members of its Tax Group shall be permitted to prepare and file an amended Tax Return at its own cost and expense; provided, however, that (i) such amended Tax Return shall be prepared in a manner consistent with (and the Parties and their Affiliates shall not take any position inconsistent with) past practices of the Parties and their Affiliates or supported by an unqualified reasoned “should” or “will” opinion of a Qualified Tax Advisor, unless otherwise modified by a Final Determination or required by applicable Law, the IRS Ruling, the Tax Representation Letters, or the Tax Opinions; and (ii) if such amended Tax Return could result in one or more other Parties becoming responsible for a payment of Taxes pursuant to Article III or a payment to a Party pursuant to Article IX, such amended Tax Return shall be permitted only if the consent of such other Parties is obtained. The consent of such other Parties shall not be withheld unreasonably and shall be deemed to be obtained in the event that a Party (or its Subsidiary) is required to file an amended Tax Return as a result of an Audit adjustment that arose in accordance with Article IX.

  • Company Tax Returns The Company shall file all tax returns, if any, required to be filed by the Company.

  • Straddle Period Taxes In the case of Taxes that are payable with respect to any Tax period beginning on or before and ending after the Closing Date (a “Straddle Period”), the portion of any such Taxes that is attributable to the portion of the period ending on the Closing Date shall be:

  • Tax Returns and Payments; Pension Contributions Borrower and each of its Subsidiaries has timely filed all required tax returns and reports, and Borrower and each of its Subsidiaries, has timely paid all foreign, federal, state, and local taxes, assessments, deposits and contributions owed by Borrower and such Subsidiaries, in all jurisdictions in which Borrower or any such Subsidiary is subject to taxes, including the United States, unless such taxes are being contested in accordance with the following sentence. Borrower and each of its Subsidiaries, may defer payment of any contested taxes, provided that Borrower or such Subsidiary, (a) in good faith contests its obligation to pay the taxes by appropriate proceedings promptly and diligently instituted and conducted, (b) notifies Collateral Agent in writing of the commencement of, and any material development in, the proceedings, and (c) posts bonds or takes any other steps required to prevent the Governmental Authority levying such contested taxes from obtaining a Lien upon any of the Collateral that is other than a “Permitted Lien.” Neither Borrower nor any of its Subsidiaries is aware of any claims or adjustments proposed for any of Borrower’s or such Subsidiaries’, prior tax years which could result in additional taxes becoming due and payable by Borrower or its Subsidiaries. Borrower and each of its Subsidiaries have paid all amounts necessary to fund all present pension, profit sharing and deferred compensation plans in accordance with their terms, and neither Borrower nor any of its Subsidiaries have, withdrawn from participation in, and have not permitted partial or complete termination of, or permitted the occurrence of any other event with respect to, any such plan which could reasonably be expected to result in any liability of Borrower or its Subsidiaries, including any liability to the Pension Benefit Guaranty Corporation or its successors or any other Governmental Authority.

  • Payroll Taxes Employer shall have the right to deduct from the compensation and benefits due to Employee hereunder any and all sums required for social security and withholding taxes and for any other federal, state, or local tax or charge which may be in effect or hereafter enacted or required as a charge on the compensation or benefits of Employee.

  • Tax-Deferred Earnings The investment earnings of your Xxxx XXX are not subject to federal income tax as they accumulate in your Xxxx XXX. In addition, distributions of your Xxxx XXX earnings will be free from federal income tax if you take a qualified distribution, as described below.

  • Tax Returns; Taxes Except as otherwise disclosed on Schedule 3.13:

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