Anti-Avoidance Provisions. The Company has not since its incorporation engaged in, or been a party to, any transaction or series of transactions or scheme or arrangement of which the main purpose, or one of the main purposes, was or could be said to be, the avoidance of, or deferral of or a reduction in the liability to, Taxation. This Agreement has been entered into on the date stated at the beginning.
Anti-Avoidance Provisions. The Company has not entered into or been a party to any scheme or arrangement of which the main purpose, or one of the main purposes, was the avoidance of or the reduction in liability to taxation.
Anti-Avoidance Provisions. The Company has neither been a party to nor otherwise involved in any transaction, scheme or arrangement which reduces or would reduce the amount of Tax payable by any person and which is artificial or fictitious or in respect of which any disposition is not given effect to within the meaning of the applicable Tax Legislation.
Anti-Avoidance Provisions. 21.1 No Target Group Company has in the seven years ending on the date of this Agreement been engaged in, or been a party to or otherwise involved in, any transaction or series of transactions or scheme or arrangement of which the 100 100 main purpose, or one of the main purposes, was or could be said to be the avoidance of, or deferral of or a reduction in the liability to, Taxation or account for any Taxation.
21.2 No Target Group Company has in the seven years ending on the date of this Agreement been engaged or concerned in, or been a party to, any transaction or series of transactions or scheme or arrangement in respect of which it considered or was advised that there was a risk that any Target Group Company could be liable to Taxation or increased Taxation as a result of the principles laid down by the House of Lords in the case of Furnxxx -x- Dawsxx (00 TC 324).
Anti-Avoidance Provisions. The Income Tax Act contains a general anti-avoidance rule that targets “impermissible avoidance arrangements”. The enquiry focuses on a consideration of whether the transaction: • was entered into for the sole or main purpose of obtaining a tax benefit; • was entered into or carried out in a manner not normally employed for bona fide business purposes, other than the obtaining of a tax benefit; • lacks commercial substance, in that it results in a significant tax benefit for a party, but does not have a significant effect on either the business risks or net cash flows of that party taking into account indicators such as the presence of round-trip financing, accommodating or tax-indifferent parties and offsetting elements; • has created rights or obligations that would not normally be created between persons dealing at arm’s length; or • would result directly or indirectly in the misuse or abuse of the provisions of the Income Tax Act. If the anti-avoidance provisions apply, SARS is entitled to determine the tax liability of the relevant party either as if the transaction had not been entered into “or in such manner as in the circumstances of the case he deems appropriate”. There are a number of other anti-avoidance provisions in various sections of the Income Tax Act, dealing with particular transactions. The Income Tax Act contains a provision that is specifically aimed at arrangements that have been entered into or affected by any person solely or mainly for the purpose of using any assessed loss, any balance of assessed loss, any capital loss or any assessed capital loss incurred by a company or trust, in order to avoid liability (on the part of that company or trust or any other person) for the payment of any tax, duty or levy on income, or to reduce the amount thereof. SARS may, if it is satisfied that the provision applies, disallow the offset of any such losses against income or capital gains, as appropriate. In addition to the general anti-avoidance arrangements, the South African courts may also seek to apply the substance- over-form doctrine and impose tax on the true intention of a transaction if that differs from the actual agreements. South African transfer pricing rules apply in relation to any transaction, operation, scheme, agreement or understanding which is entered into directly or indirectly, or affected between or for the benefit of either or both: • a person that is a resident; and - any other person that is not a resident; or - any ot...
Anti-Avoidance Provisions. None of the Group Companies has during the period commencing on 15 May 2002 and ending on the date of this Agreement engaged in, or been a party to, any transaction or series of transactions or scheme or arrangement of which the main purpose, or one of the main purposes, was or determined to be the avoidance of, or deferral of or a reduction in the liability to, Tax.
Anti-Avoidance Provisions. ADI has neither been a party to nor otherwise involved in any transaction, scheme or arrangement the main purpose or object or one of the main purposes or objects of which was to avoid or reduce a liability to tax.
Anti-Avoidance Provisions. The Company has neither been a party to nor otherwise involved in any transaction, scheme or arrangement the main purpose or object or one of the purposes or objects of which was to increase a repayment of, or to avoid or reduce a liability to tax (including of avoidance of doubt, value added tax) or to secure a tax advantage (within the meaning of Section 709 of the Taxes Act).
Anti-Avoidance Provisions. (a) So far as Seller is aware, the Company has not been engaged in or been a party to any transaction or series of transactions or scheme or arrangement the main purpose or one or more of the main purposes of which was the avoidance of or a reduction in a liability to taxation.
(b) The Company has not been a party to or otherwise involved in any transaction, scheme or arrangement to which any of the following provisions could apply: the TCGA: Sections 29-34; the TA: Sections 37, 56, 404 and 410; the CAA: Sections 42, 46, 47 75 and 159 (4), (5) and (6).
(c) The Company has not been a party to or otherwise involved in any transaction to which any of the following provisions have been or could be applied other than transactions in respect of which all necessary clearances or consents have been obtained: the TCGA: Sections 135-139; and the TA: Sections 703-709, and 776.
Anti-Avoidance Provisions. None of the Group Companies has knowingly since its incorporation engaged in, or been a party to, any transaction or series of transactions or scheme or arrangement of which the main purpose, or one of the main purposes, was to be the avoidance of its respective liability to, Taxation.
