Income Profits definition

Income Profits means the net profits of the LLP of an income nature (but excluding revaluation surpluses), for any relevant period after deduction for outstanding accrued losses of an income nature (if any) (excluding amortisation of goodwill) of the LLP in respect of prior periods.
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Income Profits has the meaning given in Clause 1.3.1; or Gains"
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Income Profits or gains” shall include income, profits or gains (including capital gains) of any description or from any source and income, profits or gains which are deemed to be earned accrued or received for any Tax purpose;
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Examples of Income Profits in a sentence

  • Accrued Income Scheme A disposal of a Bond (including a disposal occurring on redemption) by a Bondholder who is a UK income tax payer may give rise to a charge to UK income tax in respect of an amount treated under the provisions of Chapter 2 of Part 12 of the Income Tax Act 2007 (Accrued Income Profits and Losses) as representing interest accrued on the Bonds at the time of transfer.

  • Agreement Among the Governments of the Member States of the Caribbean Community for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income, Profits, or Gains and Capital Gains and for the Encouragement of Regional Trade and Investment, July 6, 1994, Tax Analysts Doc.

  • See also United Nations Ad Hoc Group of Experts on International Cooperation in Tax Matters International Cooperation in Tax Matters: Guidelines for International Cooperation Against the Evasion and Avoidance of Taxes (with Specific Reference to Taxes on Income, Profits, Capital and Capital Gains) (1984) at 30-31; RL Doernberg, L Hinnekens, W Herrerstein & L Jinyan Electronic Commerce and Multi-jurisdictional Taxation (2001) at 91.

  • For there to be a claim on the covenant in para 2.1(a) there must be a Tax Liability that has arisen or arises either (i) in consequence of an Event which occurred before Completion or (ii) in respect of any Income, Profits or Gains which were earned, accrued or received on or before Completion.

  • There must either have been an Event before Completion (Event being defined in wide terms to mean any “event, transaction … action or omission”) or there must have been Income, Profits or Gains earned, accrued or received for a pre-Completion period.

  • United Nations: Ad Hoc Group of Experts on International Co-operation in Tax Matters: International Co-operation in Tax matters: Guidelines for International Co-operation against the Evasion and Avoidance of Taxes (With Specific Reference to Taxes on Income, Profits, Capital and Capital Gains) (1984) at 11.

  • In order for the British Columbia Training and Education Savings Grant (BCTESG) to be paid, both the Beneficiary and the Beneficiary’s Custodial Parent/Legal Guardian must be residents of British Columbia at the time the application form is submitted by the Subscriber.

  • Agreement among the Governments of the Member States of the Caribbean Community for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income, Profits or Gains and Capital Gains and for the Encouragement of Regional Trade and Investment, Dec.

  • Notes on the Statement of Comprehensive Income Profits and the associated expenses are recorded whenever it is likely that the economic benefit will accrue to the corporate group, and if the amount of the profits can be determined on a reliable basis.

  • Against the Original Budget, Taxes on Income, Profits and Capital Gains were lower by K1,478.2 million.


More Definitions of Income Profits

Income Profits or gains” includes income profits or gains (including capital gains) of any description or from any source and income profits or gains which are deemed to be earned accrued or received for the purposes of any Tax; “Intellectual Property” all the Intellectual Property Rights owned and/or used by the Company prior to the date of this agreement;
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Income Profits or gains” includes income profits or gains (including capital gains) of any description or from any source and income profits or gains which are deemed to be earned accrued or received for the purposes of any Tax; “loss” in relation to an Accounts Relief, the reduction modification claw-back counter-action disallowance or failure to obtain that Accounts Relief and “lost” shall be construed accordingly;
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Income Profits means such sum as the Company's auditors shall certify to be equal to the maximum amount which, in accordance with the laws of and generally accepted accounting principles applicable in Bermuda, is distributable by way of dividend in respect of a Financial Year, less any net realised gains of a capital nature realised by the Company in that Financial Year or (as the case may be) together with an amount equal to all realised losses of a capital nature realised by the Company in that Financial Year;.
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Related to Income Profits

  • Operating Profit means the excess of Gross Revenues over the following deductions (“Deductions”) incurred by Manager, on behalf of Owner, in operating the Hotel:

  • Common profits means the balance of all income, rents, profits and revenues from the common areas and facilities remaining after the deduction of the common expenses;

  • Gross Profits means the gross profits calculated under section 4;

  • Operating Income means the Company’s or a business unit’s income from operations but excluding any unusual items, determined in accordance with generally accepted accounting principles.

  • Net Profits and “Net Losses” for any Fiscal Year or other period shall mean, respectively, an amount equal to the Company’s taxable income or loss for such Fiscal Year or other period as determined for federal income tax purposes by the Managing Member, determined in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Section 703(a) of the Code shall be included in taxable income or loss), adjusted as follows:

  • Net Profit means such profit as is calculated in accordance with paragraph 61;

  • Program Income means gross in- come earned by the recipient that is di- rectly generated by a supported activ- ity or earned as a result of the award (see exclusions in § 215.24(e) and (h)). Program income includes, but is not limited to, income from fees for serv- ices performed, the use or rental of real or personal property acquired under federally-funded projects, the sale of commodities or items fabricated under an award, license fees and royalties on patents and copyrights, and interest on loans made with award funds. Interest earned on advances of Federal funds is not program income. Except as other- wise provided in Federal awarding agency regulations or the terms and conditions of the award, program in- come does not include the receipt of principal on loans, rebates, credits, dis- counts, etc., or interest earned on any of them.

  • Distributable Profits means, in respect of any Interest Payment Date, the aggregate of (i) net profits carried forward and (ii) freely available reserves (other than reserves for own shares), in each case, less any amounts that must be contributed to legal reserves under applicable law, all as appearing in the Relevant Accounts.

  • Revenue means the price for iron ore from the mineral lease the subject of any shipment or sale and payable by the purchaser thereof to the Company or an associated company less all export duties and export taxes payable to the Commonwealth on the export of the iron ore and all costs and charges properly incurred and payable by the Company from the time the ore shall be placed on ship at the Company’s wharf to the time the same is delivered and accepted by the purchaser including —