Liability for Tax definition

Liability for Tax means any liability of any Group Company to make a payment of Tax and includes:-

Liability for Tax means any liability to make an actual payment or increased payment of Tax

Liability for Tax means: (a) any liability of any Transferred Company to make an actual payment (or increased payment) of Tax whether or not the same is primarily or jointly and severally payable by the Transferred Company and whether or not the Transferred Company has, or may have, any right of reimbursement against any other person, in which case, the amount of the Liability for Tax will be the amount of the actual payment or the increase in the amount of the payment; (b) the Loss, otherwise than by use or setting off, of any Accounts Relief, in which case, the amount of the Liability for Tax will be the amount of Tax that would have been saved but for that Loss; and (c) the use or setting off of any Purchaser's Relief where, but for that use or setting off, any Transferred Company would have had a liability to make a payment of Tax for which the relevant Purchasing Entity would have been able to make a claim against the Seller under this Schedule, in which case, the amount of the Liability for Tax will be the amount of Tax for which the Seller would have been liable but for the use or setting off; Loss: includes the absence, failure to obtain, non-existence, non-availability, reduction, modification, loss, counteraction, nullification, utilisation, disallowance, withdrawal or clawback of the relevant Relief for whatever reason; Overprovision: means the amount by which any provision for Tax (other than deferred tax) in the Final Adjustment Report is overstated, or the amount by which any Tax asset (other than a deferred tax asset) in the Final Adjustment Report is understated, except where that overstatement or understatement arises due to: (a) a change in any Applicable Law; (b) a change in the accounting bases on which any Transferred Company values its assets; (c) a voluntary act or omission of the relevant Purchasing Entity or any Transferred Company; or (d) the utilisation or setting off of a Purchaser's Relief,that, in each case, occurs after Completion;

Examples of Liability for Tax in a sentence

• In determining the tax effect of any Tax Relief for the purpose of clauses 17.1(c) or 17.1(d), the income tax rate is that which applies to the Indemnified Entity or the Head Company, as the case may be (for the purposes of section 4-10 of the Tax Act and determined in accordance with section 23 of the Income Tax Rates Act 1986 (Cth)), at the time that the Liability for Tax is incurred, suffered or arises or the Tax Relief is utilised or denied, expressed as a decimal.

• Notwithstanding anything to the contrary contained in the Parent’s Plan, all actions in the nature of those to be enjoined by the Injunctions shall be enjoined during the period between the Confirmation Date and the Effective Date.12.2 No Liability for Tax Claims.

• An Extension Structure Tax Benefit means the tax effect of any Tax Relief available to an Indemnified Entity or the Head Company in relation to the Extension Structure for the year of income to which the Liability for Tax referred to in clause 17.1(c)(i) relates, but only if the Tax Relief has not already been taken into account in determining the Liability for Tax and only to the extent that the tax effect of any Tax Relief does not exceed the Liability for Tax.

• Your Liability for Tax Marsh is not a tax adviser and consequently makes no representation to you as to your liability or otherwise for tax on any sums that may be paid to you under a contract of insurance.

• Your Liability for Tax MST is not a tax adviser and consequently makes no representation to you as to your liability or otherwise for tax on any sums that may be paid to you under a contract of insurance.

More Definitions of Liability for Tax

Liability for Tax means (i) any liability or increase in any liability of a Group Company to make a payment of or in respect of Tax, (ii) the non-availability of any relief treated as an asset of a Group Company in the Financial Statements or otherwise taken into account in computing any provision for Tax in the Financial Statements (an “Accounts Relief”), and (iii) the use or set-off of an Accounts Relief, any relief of any Group Company arising after Closing, or any relief of Bannix whenever arising, against a liability to Tax of a Group Company where such liability to Tax would have been capable of being the subject of a claim under Section 5.5(c) of this Agreement.

Liability for Tax for purposes of this section means the tax imposed under this chapter for the taxable year reduced by the sum of the nonrefundable credits allowed under this chapter.

Liability for Tax means the sum of the tax imposed under section 290.06, subdivisions 1 and 2c, for the taxable year reduced by the sum of the nonrefundable credits allowed under this chapter, on all of the entities required to be included on the combined report of the unitary business.

Liability for Tax has the meaning given in Schedule 5;

Liability for Tax has the meaning given in the Tax Deed “Management Accounts Date” 27 April 2007

Liability for Tax means the tax imposed under this chapter for the taxable year reduced by

Liability for Tax. (a) any liability or increase in any liability of any Target Group Company to make a payment of or in respect of Tax whether or not the same is primarily payable by any Target Group Company and whether or not any Target Group Company has or may have any right of reimbursement against any other person or persons;