Corporate Tax. Corporate Tax
36.1 The Contractor shall keep (and shall procure that its Sub-Contractors keep) records of all expenditure, costs and other outgoings incurred in the performance of its obligations under this Agreement, to enable, validate and support claims and compliance requirements made by the Employer under UK tax legislation with particular reference, but not limited to, reliefs provided under the Capital Allowances Act 2001 (“CAA2001”). In particular, the Contractor shall provide (and shall procure that any Sub-Contractors provide) a breakdown of costs at a sufficiently granular level to enable identification of costs attributable to assets qualifying for tax relief under CAA2001.
36.2 The Contractor shall provide (and shall procure that its Sub-Contractors provide) such records in the form that the Employer may request and such other documentation as they may have in their possession for the purposes set out in Clause 36.1 above.
Corporate Tax. Corporate Tax The Contractor shall keep (and shall procure that its Sub-Contractors keep) records of all expenditure, costs and other outgoings incurred in the performance of its obligations under this Agreement, to enable, validate and support claims and compliance requirements made by the Employer under UK tax legislation with particular reference, but not limited to, reliefs provided under the Capital Allowances Act 2001 (“CAA2001”). In particular, the Contractor shall provide (and shall procure that any Sub-Contractors provide) a breakdown of costs at a sufficiently granular level to enable identification of costs attributable to assets qualifying for tax relief under CAA2001.
Corporate Tax. Corporate Tax provides tax planning, research and tax accounting assistance for the Parties, as well as coordinates the preparation of the federal and state income tax returns, prepares estimated tax payments, and calculates the entity-wide and subsidiary level tax provisions. The allocation methodology utilized for the expense reimbursement is based on the percentage of time spent on preparing the applicable Party’s income tax returns.
Corporate Tax. 12.1 In accordance with sections 42, 45, 46, 47, 48 and 49 of the Hydrocarbon Law, each of the Parties shall calculate and pay to the STATE, without prejudice to the provisions of Article 12.2, corporate tax in accordance with the provisions of Law No. 24-86, as amended and supplemented. Each of the Parties shall be solely liable for the declaration and the payment of corporate tax owed by it, such liability being several.
12.2 Each of the Parties shall benefit from total exemption from corporate tax for a consecutive ten (10)-year period for each Exploitation Concession starting from the date of commencement of regular production from each such Exploitation Concession.
12.3 For the purposes of section 47 (B) of the Hydrocarbon Law, the term to be fixed by this Petroleum Agreement over which capital expenditure may be deducted for tax purposes is, at the option of the Parties, and for any particular tax year between two (2) and ten (10) years. Amortisation may be postponed at the option of each Party until the first day of the month in which the assets are used, in accordance with section 7 of law No. 24-86.
Corporate Tax. In 2008, this tax comprised a research tax credit in the amount of €2,298,903. As at December 31, 2008, the Company still had a negative tax balance.
Corporate Tax. 12.1. In accordance with Article 5 of the Code Général des Impôts instituted by finance law n° 43-06 for the 2007 financial year, promulgated by xxxxx n° 1-06-232 of 10 Hijja 1427 (31 December 2006), as amended and completed (“Code Général des Impôts”), and in accordance with Sections 46, 47, 48 and 49 of the Law, each of the Parties shall calculate and pay the STATE the corporate income tax, utilizing the Market Prices determined pursuant to Article 6.
12.2. In accordance with Article 6-II-B-2° of the Code Général des Impôts, each of the Parties shall benefit from a total exemption from the Corporate Income Tax for a period of ten (10) consecutive years for each Exploitation Concession starting from the date of commencement of regular production from such Exploitation Concession.
Corporate Tax. 12.1. In accordance with article 5 of the “Code Général des Impôts” instituted by finance law n° 43-06 for the 2007 financial year, promulgated by xxxxx n° 1-06-232 of 10 Hijja 1427 (December 31st, 2006), as amended by finance law n° 38-07 for the 2008 financial year, by finance law n° 40-08 for the 2009 financial year, by finance law n° 48-09 for the 2010 financial year and by finance law n° 43-10 for the 2011 financial year, and in accordance with Sections 46, 47, 48 and 49 of the Law, each of the Parties shall calculate and pay the STATE the corporate income tax according to the law n°24-86 establishing the corporate income tax as amended and completed, utilizing the Market Prices determined pursuant to Article 6.
12.2. In accordance with article 6-II-B-2° of “Code Général des Impôts” instituted by finance law n° 43-06 for the 2007 financial year, promulgated by xxxxx n° 1-06-232 of 10 Hijja 1427 (December 31st, 2006), as amended by finance law n° 38-07 for the 2008 financial year, by finance law n° 40-08 for the 2009 financial year, by finance law n° 48-09 for the 2010 financial year and by finance law n° 43-10 for the 2011 financial year, each of the Parties shall benefit from a total exemption from corporate income tax for a ten consecutive year-period for each Exploitation Concession starting from the date of commencement of regular production from such Exploitation Concession.
Corporate Tax. The debtor acknowledges and accepts that they are subject to the payment of corporate tax as provided in Law 9428 - CORPORATE TAX. Therefore, they undertake to stay current on the payment of said tax. At any time, the Bank may verify the status of compliance with this obligation, even requiring the client to annually deliver by no later than March 31 of the following year to the fiscal period for collection (which includes between January 1 and December 31 of each year), the receipt or document evidencing that the payment was made. In case the legal entity is in arrears or has not submitted the corresponding receipt to the Bank, the Bank may declare the credit due and payable.
Corporate Tax. As a result of the Petroleum Operations carried out in the Delimited Zone, the Contractor is subject to Corporate Tax. Each entity constituting the Contractor pays its share of the corporate tax in force on the Effective Date. Payment is made in kind by remittance to the State of a quantity of Hydrocarbons corresponding to the amount of the said tax. In accordance with Article 23 of this Contract, this quantity shall be included in the share accruing to the State under the production sharing, without the entity liable to pay any additional tax if the Corporation Tax calculated in accordance with this Article exceeds the share accruing to the State. The quantities of Hydrocarbons thus remitted to the State pursuant to Article 23 shall therefore have the effect of fully discharging all of the Contractor's Corporate Tax liability. The related taxable profit is that which appears from the Annual Statistical and Fiscal Declaration referred to in Article 25. The quantity of Hydrocarbons received by the State during each Calendar Year in application of Article 23 therefore includes:
Corporate Tax.
47.21.1 Each NOP shall keep (and shall procure that its Subcontractors keep) records of all expenditure, costs and other outgoings incurred in the performance of its obligations under this Agreement, to enable, validate and support claims and compliance requirements made by the Owner under UK tax legislation with particular reference, but not limited to, reliefs provided under the Capital Allowances Act 2001 (“CAA2001”). In particular, but without limitation, the NOPs shall provide (and shall procure that any Subcontractors provide) a breakdown of costs at a sufficiently granular level to enable identification of costs attributable to assets qualifying for tax relief under CAA2001.
47.21.2 Each NOP shall provide (and shall procure that its Subcontractors provide) such records in the form that the Owner may request and such other documentation as they may have in their possession for the purposes set out in clause 47.21.1 above.
