Corporation’s rights, if treated as representative assessee by Government Authorities Clause Samples

This clause defines the rights of a corporation if government authorities designate it as a representative assessee, meaning the corporation is held responsible for tax matters on behalf of another party, such as a shareholder or beneficiary. In practice, this clause outlines the procedures the corporation may follow, such as making representations, appealing assessments, or recovering amounts paid from the actual taxpayer. Its core function is to protect the corporation from undue liability and ensure it has the necessary legal avenues to defend its interests when acting in a representative capacity for tax purposes.
Corporation’s rights, if treated as representative assessee by Government Authorities. In certain situations, a Government Authority may treat the Corporation as the representative assessee of the Contractor and/or its subcontractors and recover the Taxes due to the Government Authority by the Contractor or its subcontractors from the Corporation. In such situations, the Corporation shall have the following rights: (a) The Corporation shall be entitled to recover from the Contractor, the Taxes paid on behalf of the Contractor or its subcontractors (together with any costs and expenses incurred by the Corporation in connection therewith) or to retain the same out of any amounts to be paid to the Contractor or its subcontractors that may be in its possession (whether due under this Contract or otherwise) and shall pay only the balance, if any, to the Contractor; and (b) If the Corporation is required to furnish any details or documents in such capacity, the Corporation shall request the details or documents to be furnished to it by the Contractor and the Contractor shall immediately furnish the same to the Corporation. If the Contractor fails to comply with the foregoing, any penalty/interest levied on the Corporation for non-filing or late filing of details or documents in this regard shall be recoverable from the Contractor.
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