8Tax affairs Sample Clauses
The 'Tax affairs' clause sets out the responsibilities of the parties regarding their tax obligations in relation to the agreement. It typically requires each party to ensure that their own tax affairs are in order, such as paying any taxes due and complying with relevant tax laws. For example, a contractor may be required to confirm they are registered for VAT or income tax, and the client may be protected from liability for the contractor's unpaid taxes. This clause helps allocate risk and ensures that each party is accountable for their own tax compliance, reducing the likelihood of disputes or unexpected liabilities arising from tax issues.
8Tax affairs. (a) Nothing in this Section 11 shall oblige any Facility Indemnified Party to disclose any information to any person regarding its affairs (Tax or otherwise) or Tax computations or interfere with the right of any Facility Indemnified Party to arrange its affairs (Tax or otherwise) in whatever manner it thinks fit.
(b) Notwithstanding any other provision herein, the Company (and its employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the U.S. tax treatment and U.S. tax structure of this Agreement and all materials of any kind (including opinions or other tax analyses) that are provided to such party relating to such U.S. tax treatment and U.S. tax structure, other than any information for which nondisclosure is reasonably necessary in order to comply with applicable securities laws.