Common use of Taxation of Payments Clause in Contracts

Taxation of Payments. ZENECA will withhold taxes from the royalty or other payments as required by the internal tax law of the U.K. In the case of such withholding being applicable, ISIS may apply for the reduction of rate of withholding tax under the U.K./U.S. Income Tax Treaty with the assistance of ZENECA and, provided the claim is accepted and ZENECA is duly authorized by the Inland Revenue, ZENECA will apply the reduced rate accordingly. If applicable laws required that taxes be withheld, ZENECA will deduct those taxes from the remittable payments, make timely payment of the taxes to the proper taxing authority, and send a confirmation of such payment in a form approved by the UK Inland Revenue to ISIS within 60 days following that payment.