Definition of PRC Taxes

  1. PRC Taxes means any Taxes of Cross Dongguan for any taxable period (including, for the avoidance of doubt, any Straddle Period, Pre-Closing Tax Period or PostClosing Tax Period) arising out of or related to the difference between the amounts reflected as payables and receivables on Chinese statutory books of account of Cross Dongguan (the "Statutory Books") and amounts reflected as payables and receivables in the Chinese foreign exchange currency control system (the "FX Control System") with respect to Cross Dongguan, in each case on the Closing Date (including, any Taxes as a result of a Chinese Taxing Authority claiming that the account payable on the Statutory Books should be reduced to match the account payable in the FX Control System).

Examples of PRC Taxes in a sentence

  1. Covered Tax means with respect to the transactions contemplated hereunder, any and all PRC Taxes that are payable as a result of the application of PRC Circular 698 to such transactions and any and all PRC Taxes that are in the nature of capital gains levied on such transactions.

Definition of PRC Taxes in Asset Purchase Agreement

PRC Taxes means any Taxes of Cross Dongguan for any taxable period (including, for the avoidance of doubt, any Straddle Period, Pre-Closing Tax Period or PostClosing Tax Period) arising out of or related to the difference between the amounts reflected as payables and receivables on Chinese statutory books of account of Cross Dongguan (the "Statutory Books") and amounts reflected as payables and receivables in the Chinese foreign exchange currency control system (the "FX Control System") with respect to Cross Dongguan, in each case on the Closing Date (including, any Taxes as a result of a Chinese Taxing Authority claiming that the account payable on the Statutory Books should be reduced to match the account payable in the FX Control System).