Relevant Tax Assessment definition

Relevant Tax Assessment means a Tax Assessment which may give rise to a Relevant Claim;
Sample 1

Examples of Relevant Tax Assessment in a sentence

  • Notwithstanding anything to the contrary in this clauses 3.4 to 3.10 (inclusive), the Purchaser shall not be obliged to procure that any Group Company appeals against any Relevant Tax Assessment in any forum beyond the first relevant appellate body unless independent tax counsel of at least six years' call advises in writing that, in that counsel's opinion, the chances of success in such a further appeal would be greater than the chances of failure.

  • If the Purchaser or any Group Company becomes aware of or receives any Relevant Tax Assessment, the Purchaser shall as soon as is reasonably practicable and in any event within 15 Business Days thereof give written notice of the Relevant Tax Assessment to the with reasonable details in respect of the same.

  • If a Relevant Tax Assessment would become final unless appealed against within applicable time limits, at the written request of the Sellers' Representative, the Purchaser shall procure that the relevant Group Companies file an appeal.

  • The Sellers hereby agree to indemnify the Company and the Purchaser against all losses, costs, interest, damages and expenses reasonably and property incurred by the Purchaser or any Group Company (including, without limitation, interest on overdue Taxation and any Taxation which has to be paid before a Relevant Tax Assessment can be appealed) which may arise as a result of any such action which the Sellers' Representative requests.

  • The Sellers shall not be entitled to request that the Purchaser takes any action or procure that any action is taken under clauses 3.4 to 3.10 (inclusive) if it is alleged by the Taxation Authority in question (in connection with the Relevant Tax Assessment) that the Sellers have, or any Group Company whilst it was under the control of the Sellers has, committed acts or omissions which may constitute fraud or misfeasance.

  • If the Purchaser becomes aware of a Relevant Tax Assessment, clauses 3.4 to 3.10 (inclusive), and not clauses 3.20 to 3.23 (inclusive), shall apply in respect thereof.

Related to Relevant Tax Assessment

  • Relevant Tax Authority means HMRC, or, if applicable, the tax authority in the jurisdiction in which the Supplier is established;

  • Relevant Tax means any present or future taxes, duties, assessments or governmental charges of whatever nature, imposed or levied by or on behalf of any Relevant Jurisdiction or any authority therein or thereof having the power to tax.

  • Reassessment means additional moneys paid by the members to a joint self-insurance program.

  • council tax benefit means council tax benefit under Part 7 of the SSCBA; “couple” has the meaning given by paragraph 4;

  • input tax , in relation to a vendor, means—

  • Production Tax Credit or “PTC” means the tax credit for electricity produced from certain renewable generation resources described in Section 45 of the Internal Revenue Code of 1986, as it may be amended or supplemented from time to time.

  • Tax means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same).

  • Actual Tax Liability means, with respect to any Taxable Year, the liability for Covered Taxes of the Corporation (a) appearing on Tax Returns of the Corporation for such Taxable Year and (b) if applicable, determined in accordance with a Determination (including interest imposed in respect thereof under applicable law).

  • Assessment means determination of tax liability under this Act and includes self-assessment, re-assessment, provisional assessment, summary assessment and best judgement assessment;

  • REO Tax As defined in Section 3.17(a).

  • Assumed Tax Liability means, with respect to any Member, an amount equal to the excess of (i) the product of (A) the Distribution Tax Rate multiplied by (B) the estimated or actual cumulative taxable income or gain of the Company, as determined for federal income tax purposes, allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, less prior losses of the Company allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, in each case, as determined by the Manager and to the extent such prior losses are available to reduce such income over (ii) the cumulative Tax Distributions made to such Member after the closing date of the IPO pursuant to Sections 4.01(b)(i), 4.01(b)(ii) and 4.01(b)(iii) and, if applicable with respect to such Fiscal Year, pursuant to Section 4.1(a) of the Previous LLC Agreement; provided that, in the case of the Corporation, such Assumed Tax Liability (x) shall be computed without regard to any increases to the tax basis of the Company’s property pursuant to Sections 734(b) or 743(b) of the Code and (y) to the extent permitted under the Credit Agreements and applicable Law, shall in no event be less than an amount that will enable the Corporation to meet both its tax obligations and its obligations pursuant to the Tax Receivable Agreement for the relevant Taxable Year; provided further that, in the case of each Member, and for the avoidance of doubt, such Assumed Tax Liability shall take into account any Code Section 704(c) allocations (including “reverse” 704(c) allocations) to the Member.

  • self-assessment ’ means a determination of the amount of tax payable under a tax Act by a taxpayer and—

  • Base Tax Year means the property tax levy year used

  • Tax Authority means, with respect to any Tax, the governmental entity or political subdivision thereof that imposes such Tax, and the agency (if any) charged with the collection of such Tax for such entity or subdivision.

  • Input Tax Credit means the credit of input tax;

  • criminal tax matters means tax matters involving intentional conduct whether before or after the entry into force of this Agreement which is liable to prosecution under the criminal laws of the requesting Party;

  • Pre-Tax Income means income, as determined by GAAP, prior to deduction of the Bonus Pool (as hereinafter defined) and income taxes, and if applicable, after the deduction of any bonus pool of a future officer bonus plan adopted by the Company relating to an applicable Award Year and adjustments approved by the Board as described herein.

  • Combined Tax Return means a Tax Return filed in respect of U.S. federal, state, local or non-U.S. income Taxes for a Combined Group, or any other affiliated, consolidated, combined, unitary, fiscal unity or other group basis (including as permitted by Section 1501 of the Code) Tax Return of a Combined Group.

  • child tax credit means a child tax credit under section 8 of the Tax Credits Act 2002;

  • Income Tax Return means any return, declaration, report, claim for refund, or information return or statement relating to Income Taxes, including any schedule or attachment thereto, and including any amendment thereof.

  • Straddle Tax Period means a Tax period that begins on or before the Closing Date and ends after the Closing Date.

  • foreign tax means any Foreign Income Taxes or Foreign Other Taxes.

  • Agreement combined tax rate means the sum of the tax rates:

  • Income Tax Expense means for Borrower and its Subsidiaries, on a consolidated basis for any period, all state and federal income taxes (including without limitation Texas franchise taxes) paid or due to be paid during such period.

  • Pre-Tax Earnings means the Corporation's earnings before income taxes as reported in the Company's Consolidated Income Statement for each fiscal year of the Performance Period, excluding any non-cash charge incurred in accordance with accounting principles generally accepted in the United States of America (GAAP) for any restricted stock or restricted stock unit awards granted during the Performance Period and all options, restricted stock and other equity compensation granted to Directors during the Performance Period.

  • Rollback tax rate means the rate that will produce last year’s maintenance and operation tax levy (adjusted) from this year’s values (adjusted) multiplied by 1.08 plus a rate that will produce this year’s debt service from this year’s values (unadjusted) divided by the anticipated tax collection rate.