GROSS RECEIPT TAXES Clause Samples

GROSS RECEIPT TAXES. Title 33 VIC Ch. 3, §44, as amended 1 ; requires VIHFA, when making a payment under this Agreement, to deduct and withhold (a) The Government of the Virgin Islands including its instrumentalities, agencies and public corporations, when making a payment as defined under subsection (b) of this section to any person, partnership, firm, corporation, or other business association that is subject to the payment of gross receipts tax under the provisions of this title, shall deduct and withhold from such payment gross receipts tax equal to four percent of such payment. Such tax shall be paid to the Virgin Islands Bureau of Internal Revenue within days of the last day of the calendar month during which such tax was withheld on forms to be provided by the Virgin Islands Bureau of Internal Revenue. (b) For purposes of withholding under this section, "payment" is defined as the following: Contract No. 2024-CDBG-DR-004 Purchase Agreement YIHFA and Universal Business Supplies, Inc. ▇▇▇▇▇▇▇▇ House Office Furniture-_St.. Croix Page I I from such payments;·gtoss receipt taxes as required by law at 33 VIC Section 43(a) for each payment for Work performed in the Virgin Islands. It is agreed between the Parties that for the purposes of complying with Title 33, Ch. 3, Section 44 of the Virgin Islands Code, VIHFA shall withhold and forward to the Virgin Islands Bureau of Internal Revenue ("VIBIR") such amount as required by the law at 33 VIC Section 43(a) or any amendments thereto.

GROSS RECEIPT TAXES. Title 33, Section 44 of the Virgin Islands Code, as amended, requires that the Authority, when making a payment under this Contract, to deduct and withhold from such payments, gross receipts taxes as required by the Virgin Islands law at

GROSS RECEIPT TAXES. Price(s) shall not include state gross receipts tax or local option tax(es). Such tax or taxes shall be added at time of invoicing at current rate, and shown as a separate item to be paid by user.