Examples of Swiss Withholding Tax Act in a sentence
Swiss Withholding Tax Act Based on the results of a consultation that addressed amendments to the Withholding Tax Act, the Swiss Federal Council proposed in September 2020 to maintain the withholding tax on interest carried on bank accounts by natural persons with tax domicile in Switzerland and to abolish the tax on all other interest payments.
Each and every Affiliate and the Issuer shall take care and undertake that no flow back of the proceeds raised, whether wholly or partly, directly or indirectly, or via a group internal cash pooling will occur to Hanesbrands Switzerland or any Swiss affiliate (including any foreign affiliate that is a Swiss tax resident (Inländer) for purposes of the Swiss Withholding Tax Act) or Swiss branch of a non-Swiss affiliate of Hanesbrands Switzerland.
In the event that the Swiss Withholding Tax Act and the practice of the Swiss tax authorities, notably of the Swiss Federal Tax Administration, are modified in a manner that would require the payment of such Swiss Withholding Tax, the Loan Parties and each relevant Lender agree to use commercially reasonable efforts to amend this Agreement to ensure that no Swiss Withholding Tax applies to payments in respect of such interest payments.
The parties acknowledge that the provisions of the Swiss Withholding Tax Act and the current practice of the Swiss tax authorities, notably of the Swiss Federal Tax Administration, may change in future and agree that it is in the best interest of all parties hereto that no Swiss Withholding Tax will be payable on the interest payments made with respect to the Swiss Subsidiary Borrower under this Agreement.
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