Guarantee for VAT Sample Clauses

Guarantee for VAT. The Contractor declares and undertakes that it shall submit a proper tax return for VAT and in case of occurrence of a duty to pay VAT, it shall pay it to the locally competent tax authority within the specified payment period. The Contractor declares that it has no intention to avoid VAT payment in relation to the Performance according to the Contract and it has no intention to reduce the tax or to elicit a tax allowance or has no intention to get to a position in which it would not be able to pay this tax. In the event that the Contractor has been published on the website of the Finance Directorate of the SR in the list pursuant to the provisions of Section 69 (15) of the Act on VAT (hereinafter the “List”), SE is authorised to retain the amount equal to VAT from each invoice for the Performance of the Contractor pursuant to the Contract with the delivery date not earlier than the date of publishing the Contractor in the List. If SE applies retention of VAT, SE will notify the Contractor of this fact in writing. SE is entitled to pay the retained amount of VAT to the Contractor’s personal account kept by the competent tax office (hereinafter the "Contractor’s PA"). The Contractor shall, within 5 working days after the retention of VAT by SE, deliver to SE in writing all information necessary for SE to pay VAT to the Contractor’s PA, namely: the number of the Contractor’s PA, the taxable period for which the tax is to be paid and the number of the invoice for this taxable period. SE shall notify the Contractor of any and each payment of VAT to the Contractor´s PA. If the Contractor does not provide SE with all the above information properly and on time, SE shall charge the Contractor a contractual penalty in the amount of EUR 1,000. This contractual penalty must be paid within the period pursuant to clause 15.17 hereof. SE will offset their claim for payment of the contractual penalty against the first payable liability of SE to the Contractor that SE records in its accounts. SE will return the retained amount of VAT to the Contractor, minus the VAT paid by SE to the Contractor’s PA, within 7 working days from receipt of the Contractor's written request for return of the retained VAT, sent to the invoicing address pursuant to clause 7.2.14, subject to the following conditions:
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Related to Guarantee for VAT

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