CGT Liability definition

CGT Liability means any (a) capital gains tax payable to the Taxation Authority (for the avoidance of doubt, save where clause 9.6 applies, exclusive of any penalty, fine, additional tax, understatement penalty, surcharge, interest, charges or costs payable in connection thereto) and (b) any capital gains tax which would have been payable to the Taxation Authority but for the utilisation of any existing loss available to a taxpayer;
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CGT Liability means any Liability under the Tax Act (including Article 26 (Income Withholding Tax) arising as a result of the Seller’s receipt of the Purchase Price (including any other amount which is deemed for the purposes of the Tax Act to be included in the consideration given by the Buyer for the Sale Shares). For the purposes of this definition “Tax Act” only includes a “Tax Act” which is part of the law of Indonesia.
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Examples of CGT Liability in a sentence

  • If a Borrower proposes to make a Permitted Disposal to a Third Party other than a Minor Disposal and such Permitted Disposal would give rise to a Material CGT Liability it shall certify in the Mortgaged Property Disposal Certificate (in accordance with Clause 17.7 (Covenants and Other Provisions regarding Disposal of Mortgaged Properties)) to the Borrower Security Trustee the estimated Tax Amount in respect of such Permitted Disposal.

  • If a Borrower proposes to make a Permitted Disposal to a MAB Group Company and that Permitted Disposal would give rise to a Material Contingent CGT Liability and/or Material Contingent Stamp Duty Liability it shall certify to the Borrower Security Trustee that the arrangements described in Clause 13 (Permitted Acquisitions/ Disposals) of the Tax Deed have been complied with in relation to that Borrower and/or the relevant MAB Group Company.

  • Exxaro shall consult with Tronox LLC with a view to mitigating any CGT Liability or determining whether any notification from the Taxation Authority should be resisted and whether any objection and/or appeal should be lodged against any potential assessment or assessment; provided that the final decision lies with Exxaro and Exxaro is not required to take any position that would be commercially unreasonable or that would otherwise prejudice its Tax affairs.

  • Tronox LLC covenants to pay Exxaro an amount equal to any CGT Liability assessed on Exxaro in respect of any disposal(s) of its Tronox Holdings Shares and which would not have been assessed on Exxaro but for the Tronox B Scheme (the “CGT Covenant”).

  • Each party will exercise its best endeavours to determine the CGT Liability as soon as practicable following the date of this Agreement.