Additional Government Share Clause Samples

Additional Government Share. Payment of the Additional Government Share shall commence after the Recovery Period. The Additional Government Share shall be computed and filed by the Contractor using the procedure in the applicable rules and regulations. The amount shall be paid to the Bureau within thirty (30) days after the filing and payment date of the final income tax return to the Bureau of Internal Revenue. The Bureau shall conduct a post-audit of the payment and shall notify the Contractor of any deficiency in its payment of Additional Government Share. For the purpose of determining the amount of Additional Government Share, the Contractor shall furnish the Director certified true copies of receipts of all of its payments of taxes, royalties and fees comprising the Basic Government Share during the calendar year, including its income tax returns, not later than fifteen (15) days after the date of its filing. Late filing and payment of the Additional Government Share shall be subject to the same penalties applicable to late filing of income tax returns. Non- settlement of deficiencies in the payment of Additional Government Share within thirty (30) days from receipt of notice shall be a ground for withholding the issuance of Ore Transport Permits and/or suspension or cancellation of this Agreement. The appropriate penalties and fines for income tax returns shall be applied to non-complying Contractors for this offense.