Business Activity Tax definition

Business Activity Tax means any Taxes based upon a Party’s corporate franchise, capital, assets, profit, net income or general operations paid or payable by that Party.
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Business Activity Tax means a tax imposed on, or measured by, net income, a business license tax, a business and occupation tax, a franchise tax, a single business tax or a cap- ital stock tax, or any similar tax or fee im-
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Examples of Business Activity Tax in a sentence

  • Notwithstanding section 3, tax shall not be charged under this Act on income in respect of an offshore business activity carried on by an offshore company, other than an offshore company (in this Act referred to as “chargeable offshore company”), which has made an election under section 3A of the Labuan Offshore Business Activity Tax Act 1990.

  • Labuan offshore companies (under the Labuan Offshore Business Activity Tax Act 1990) are not entitled to the tax treaty benefits.

  • Business Activity Tax (BAT) Nexus StandardsThe possibility that states could be authorized to require remote vendors to collect sales and use taxes on interstate sales raised concerns that states would then attempt to impose income and other business taxes on those vendors.

  • The credit may only be taken for the year in which the Business Activity Tax is levied and if such tax is timely paid.

  • This Act shall have effect for the year of assessment 1991 and subsequent years of assessment.Note:(2) Where, on and after the date of the coming into operation of this Act, a reference is made in any written law to the Labuan Offshore Business Activity Tax Act 1990, such reference shall be construed as a reference to the Labuan Business Activity Tax Act 1990.

  • Based on Labuan Business Activity Tax (Amendment) Bill 2019 and clarification from Certified Tax Institute of Malaysia (“CTIM”) through its memorandum on issues arising from Labuan Business Activity Tax (Amendment) Bill 2019 dated 18 December 2019, Labuan business activity which is not listed in the amended regulations will be taxed under the Income Tax Act 1967.

  • The Income Tax Act 1967 [ Act 53], the Promotion of Investments Act 1986 [Act 327], the Stamp Act 1949 [Act 378], the Real Property Gains Tax Act 1976 [Act 169], the Labuan Business Activity Tax Act 1990 [Act 445], the Service Tax Act 2018 [Act 807] and the Sales Tax Act 2018 [Act 806] are amended in the manner specified in Chapters II, III, IV, V, VI, VII and VIII respectively.

  • Statutory provisions also include the ITA as a whole, Real Property Gains Tax Act 1976, Petroleum (Income Tax) Act 1967, Promotion of Investments Act 1986, Stamp Act 1949, Labuan Business Activity Tax Act 1990 and other acts administered by IRBM.

  • EXPLANATORY STATEMENT This Bill seeks to amend the Income Tax Act 1967 (“Act 53”), the Promotion of Investments Act 1986 (“Act 327”), the Stamp Act 1949 (“Act 378”), the Real Property Gains Tax Act 1976 (“Act 169”), the Labuan Business Activity Tax Act 1990 (“Act 445”), the Service Tax Act 2018 (“Act 807”) and the Sales Tax Act 2018 (“Act 806”).

  • You can’t have it both ways.” Quoted in: Doug Sheppard, “What’s the Appropriate Standard for Business Activity Tax Nexus?” State Tax Notes, March 4, 2002.

Related to Business Activity Tax

  • Business activity means that term as defined in section 3(2) of the former single business tax act, 1975 PA 228, or in section 105 of the Michigan business tax act, 2007 PA 36, MCL 208.1105.

  • Wellness activity means an explicit program of an activity

  • Business Activities shall be deemed to include any activities which are included in the Company's Business now or during the effective period of this Agreement.

  • Competitive Business Activity means:

  • Core Business means any material line of business conducted by the Borrower and its Subsidiaries as of the Closing Date and any business reasonably related or incidental thereto.

  • Unitary business means one or more related business organizations engaged in business activity both within and outside the State among which there exists a unity of ownership, operation, and use; or an interdependence in their functions.

  • economic activity means putting goods or services on a market. It is not necessary to make a profit to be engaged in economic activity: if others in the market offer the same good or service, it is an economic activity.

  • Competitive Activity will not include (i) the mere ownership of securities in any such enterprise and the exercise of rights appurtenant thereto or (ii) participation in the management of any such enterprise other than in connection with the competitive operations of such enterprise.

  • Competitive Activities means any business activities in which the Company or any other member of the Company Group engage (or have committed plans to engage) during the Term of Employment, or, following termination of Employee’s employment hereunder, was engaged in business (or had committed plans to engage) at the time of such termination of employment.

  • Disadvantaged Business means a small business concern: (a) which is at least 51 percent owned by one or more socially and economically disadvantaged individual(s) or in the case of any publicly owned business, at least 51 percent of the stock of which is owned by one or more socially and economically disadvantaged individual(s); and (b) whose management and daily business operations are controlled by one or more of the socially and economically disadvantaged individual(s) who own it. It is important to note that the business owners themselves must control the operations of the business. Absentee ownership or title ownership by an individual who does not take an active role in controlling the business is not consistent with eligibility as a DBE under CFR 49 Part 26.71.

  • Separate Business means each of the activities of the Licensee connected

  • Economic activities shall in principle include activities of an industrial, commercial and professional character and activities of craftsmen;

  • Business Area means an adjacent area that is zoned by a state, county, township, or municipal zoning authority for industrial or commercial purposes, customarily referred to as "b" or business, "c" or commercial, "i" or industrial, "m" or manufacturing, and "s" or service, and all other similar classifications and that is within a city, village, or charter township or is within 1 mile of the corporate limits of a city, village, or charter township or is beyond 1 mile of the corporate limits of a city, village, or charter township and contains 1 or more permanent structures devoted to the industrial or commercial purposes described in this subdivision and that extends along the highway a distance of 800 feet beyond each edge of the activity. Each side of the highway is considered separately in applying this definition except that where it is not topographically feasible for a sign or sign structure to be erected or maintained on the same side of the highway as the permanent structure devoted to industrial or commercial purposes, a business area may be established on the opposite side of a primary highway in an area zoned commercial or industrial or in an unzoned area with the approval of the state highway commission. A permanent structure devoted to industrial or commercial purposes does not result in the establishment of a business area on both sides of the highway. All measurements shall be from the outer edge of the regularly used building, parking lot, or storage or processing area of the commercial or industrial activity and not from the property lines of the activities and shall be along or parallel to the edge or pavement of the highway. Commercial or industrial purposes are those activities generally restricted to commercial or industrial zones in jurisdictions that have zoning. In addition, the following activities are not commercial or industrial:

  • Disadvantaged Business Enterprise means a for-profit small business concern that is at least 51% owned by one or more individuals who are both socially and economically disadvantaged individuals or, in the case of a corporation, in which 51% of the stock is owned by one or more such individuals; and whose management and daily business operations are controlled by one or more socially and economically disadvantaged individuals who own it.

  • Subject Business means the policy or policies that are the subject of the Insurance Business Transfer Plan.

  • Competing Activity means the providing of services or performance of activities for a Competitive Enterprise in a line of business that is similar to any line of business to which the Executive provided services to the Firm in a capacity that is similar to the capacity in which the Executive acted for the Firm while employed by the Firm, and (ii) “Competitive Enterprise” shall mean a business (or business unit) that (A) engages in any activity or (B) owns or controls a significant interest in any entity that engages in any activity, that in either case, competes anywhere with any activity in which the Firm is engaged up to and including the Executive’s Date of Termination. Further, notwithstanding anything in this Section 5, the Executive shall not be considered to be in violation of this Section 5 solely by reason of owning, directly or indirectly, any stock or other securities of a Competitive Enterprise (or comparable interest, including a voting or profit participation interest, in any such Competitive Enterprise) if the Executive’s interest does not exceed 5% of the outstanding capital stock of such Competitive Enterprise (or comparable interest, including a voting or profit participation interest, in such Competitive Enterprise).

  • Significant business transaction means any business transaction or series of transactions that, during any one fiscal year, exceeds the lesser of $25,000 or 5 percent of the total operating expense of a provider.

  • Competitive Business means any firm, partnership, joint venture, corporation and/or any other Person, and/or any licensee of such entity, that develops, manufactures, markets, distributes, provides, offers, or sells any services or products substantially similar to First Party’s services or products.

  • Affiliated business entity relationship means a relationship, other than a parent- subsidiary relationship, that exists when

  • Active business operations means all business operations that are not inactive business operations.

  • Disadvantaged Business Enterprise (DBE) means a firm certified as such by the Department in accordance with 49 CFR Part 26.

  • Businesses means, at any time, a collective reference to the businesses operated by the Borrower and its Subsidiaries at such time.

  • Activity means the rate of disintegration or transformation or decay of radioactive material. The units of activity are the becquerel (Bq) and the curie (Ci).

  • regulated business means a business which is required to be licensed under one or other of the regulatory laws;

  • Controlled unaffiliated business means a company:

  • Associated Business means a business that owns at least 50% of and controls, directly or indirectly, an authorized business.