Import Tax Exemption Sample Clauses

Import Tax Exemption. 1. Except as otherwise provided in this Agreement, no Party may increase any existing import tax, or adopt any new import tax, on originating goods. 2. Except as otherwise provided in this Agreement, each Party shall progressively eliminate its import taxes on originating goods as set out in Annex 1 to this Article. 3. Paragraphs 1 and 2 of this article are not intended: (a) prohibit a Party from increasing an import tax on originating goods to a level no higher than that set out in the Schedule, where that Party had previously reduced that import tax unilaterally to a level lower than that set out in the Schedule; (b) prevent a Party from increasing an import duty on originating goods when such increase is authorized as a result of a GATT dispute settlement proceeding between those Parties. (c) prevent a Party from creating a new tariff split or split, provided that the import duty applicable to the originating goods concerned is not higher than that applicable to the tariff code split or split. 4. Unless otherwise provided, this Agreement incorporates the tariff preferences previously negotiated between the Parties, the regional tariff preference (RTP) for the tariff universe and the extension of the RTP between Mexico and Venezuela, as reflected in Annex 1 to this Article. As of the entry into force of this Agreement, the preferences previously negotiated or granted between the Parties within the framework of the ALADI are no longer in effect. 5. For purposes of import tax relief in accordance with this Article, the transitional rates or tariff rates shall be approximated downward to at least the nearest tenth of a percent or, if the rate of duty is expressed in units of currency, to at least the nearest .001 of the Party's official currency unit. 6. In addition to the provisions of Annex 2 to this Article, at the request of any Party, the Commission shall consult to examine the possibility of accelerating the relief of import taxes on one or more goods or of including one or more goods in the Schedule and shall make appropriate recommendations to the Parties. Once the relevant legal requirements have been met, the accelerated relief from import taxes on a good that is achieved for two or more Parties shall prevail over any import tax or relief period for that good between those Parties. The inclusion of goods in the Duty Relief Program that is achieved between two or more Parties will become effective for those goods between those Parties once the corr...
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Import Tax Exemption. The Russian government has imposed a tax on any western made aircraft which is leased by a Russian airline for longer than 1 year. Transaero has received a blanket exemption from the import tax, but the exemption expires during the lease term. The blanket exemption for Transaero permits Transaero to not pay a tax for its lease of the Transaero Aircraft. When the blanket exemption expires, it is quite possible that the parties will need to make alternative arrangements. But Transaero is quite confident that the exemption will be extended or the law will be revised.
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Related to Import Tax Exemption

  • SALES TAX EXEMPTION The Services under the Contract will be paid for from the Department’s funds and used in the exercise of the Department’s essential functions as a State of Utah entity. Upon request, the Department will provide Contractor with its sales tax exemption number. It is Contractor’s responsibility to request the Department’s sales tax exemption number. It is Contractor’s sole responsibility to ascertain whether any tax deductions or benefits apply to any aspect of the Contract.

  • TAX EXEMPTION The Department of Montana is exempt from Federal Excise Taxes (#▇▇-▇▇▇▇▇▇▇).

  • Tax Exemptions Ontario Universities and College Residences are tax-exempt and Residents are not charged taxes on Residence fees. As such, the Resident may claim only $25 as the occupancy cost for the part of the year lived in Residence. If filing either a paper or an electronic income tax return, the Resident does not need to include receipts with the tax return. For that reason, Humber Residences does not provide tax receipts.

  • Group Tax Exemption Ruling As of the Disaffiliation Date, Local Church shall cease to use, and also shall ensure that any Subsidiaries or affiliates of Local Church which have been included in the group tax exemption ruling shall cease to use, any and all documentation stating that Local Church is included in the denomination’s group tax exemption ruling administered by the General Council on Finance and Administration of The United Methodist Church. Local Church and any of its Subsidiaries and affiliates which have been included in the group tax exemption ruling will be removed as of the Disaffiliation Date.

  • Withholding Tax Exemption At least five Business Days prior to the first date on which interest or fees are payable hereunder for the account of any Lender, each Lender that is not incorporated under the laws of the United States of America, or a state thereof, agrees that it will deliver to each of the Borrower and the Agent two duly completed copies of United States Internal Revenue Service Form 1001 or 4224, certifying in either case that such Lender is entitled to receive payments under this Agreement and the Notes without deduction or withholding of any United States federal income taxes. Each Lender which so delivers a Form 1001 or 4224 further undertakes to deliver to each of the Borrower and the Agent two additional copies of such form (or a successor form) on or before the date that such form expires (currently, three successive calendar years for Form 1001 and one calendar year for Form 4224) or becomes obsolete or after the occurrence of any event requiring a change in the most recent forms so delivered by it, and such amendments thereto or extensions or renewals thereof as may be reasonably requested by the Borrower or the Agent, in each case certifying that such Lender is entitled to receive payments under this Agreement and the Notes without deduction or withholding of any United States federal income taxes, unless an event (including without limitation any change in treaty, law or regulation) has occurred prior to the date on which any such delivery would otherwise be required which renders all such forms inapplicable or which would prevent such Lender from duly completing and delivering any such form with respect to it and such Lender advises the Borrower and the Agent that it is not capable of receiving payments without any deduction or withholding of United States federal income tax.