Common use of Taxation of the Company Clause in Contracts

Taxation of the Company. (a) Where the Company maintains its existence as a company incorporated under the laws of Bangladesh operating exclusively as a power generation company, the Company shall, commencing on the Commercial Operations Date and continuing until the fifteenth (15th) anniversary of the Commercial Operations Date, be exempt from taxation or withholding tax in Bangladesh (or withholding of tax by BPDB or GOB) on its income from the sale of Dependable Capacity and Net Energy Output under the Power Purchase Agreement (or on any payments received by the Company in lieu thereof).

Taxation of the Company. (a) Where the Company maintains its existence as a company incorporated under the laws of Bangladesh operating exclusively as a power generation company, the Company shall, commencing on the Commercial Operations Date and continuing until the fifteenth (15th) anniversary of the Commercial Operations Date, be exempt from taxation or withholding tax in Bangladesh (or withholding of tax by BPDB, the Gas Supplier, BPDB (as the lessor under the Land Lease Agreement), or GOB) on its income from the sale of Dependable Capacity and Net Energy Output under the Power Purchase Agreement (or on any payments received by the Company in lieu thereof).