LISR definition
Examples of LISR in a sentence
The main purpose of the Trust is the acquisition or construction of real estate properties in Mexico destined for lease or the acquisition of the right to obtain income from the lease of such real estate properties, as well as to grant financing for such purposes secured by the respective leased real estate properties directly or through trusts (including, without limitation, through Investment Trusts), in accordance with Articles 187 and 188 of the LISR and other applicable tax provisions.
As a consequence thereof, the parties agree that Mexican Seller shall include the sales proceeds for the sale of the shares of the Mexican Sold Entity within its taxable income and subject to Mexican taxation in accordance with the relevant provisions of the LISR.
No later than 5 Business Days before the Closing Date, Oronite may deliver to Buyer a notice confirming Oronite’s election to appoint a Tax representative in Mexico, in accordance with article 174 of the Mexican Income Tax Law (“Impuesto Sobre la Renta” or the “LISR”) for purposes of calculating and reporting any Income Tax payable by Oronite under article 161 of the LISR in respect of its sale of Shares hereunder.
Absent delivery of such notice, Buyer shall make the relevant withholding provided for in the LISR, with respect to the portion of the Total Purchase Price allocated to Oronite based on the Oronite Percentage.
Buyer and Oronite agree that, under the LISR, if Oronite delivers the notice outlined herein, Buyer shall be released from any and all obligations to withhold Mexican Income Tax on behalf of Oronite and, therefore, any references to a withholding tax applicable to Oronite’s share of the Total Purchase Price, or any other amount payable hereunder, shall be disregarded and not applicable to Oronite.
Pending Release of Part C Shares, in accordance with to LISR, Vesta is to apply income tax withholding in accordance with Articles 140 and 164 of the LISR, through the brokerage house having the custody of Part C Shares upon Release.
In accordance with Article 114 of the LISR’s Regulations, due to being shares placed amongst the investor public at large, Vesta will send INDEVAL the amount of distributed Dividends jointly with tax proof referred to under Article 76, Fraction XI, paragraph b), of the LISR.
As a consequence of the tax deconsolidation of the Acquired Companies, Seller agrees that it will timely comply with any and all obligations imposed on Seller by the Mexican Income Tax Law (Ley del Impuesto Sobre la Renta, or “LISR”) and the Mexican Asset Tax Law (Ley del Impuesto al Activo, or “Asset Tax Law” and together with the LISR the “Tax Laws”) in connection with such tax deconsolidation.
In terms of Articles 94, Fraction VII, 96 and 99, Fraction I, of the LISR, Vesta is to withhold and pay income tax deriving from Part B Stock Option exercise.
The parties agree that the Tax Withholding Amount represents the amount that CMGN is required to withhold from the Pre-Closing Purchase Price Payment pursuant to the provisions of Article 190 of the LISR (as defined in Section 2.7(a)).