Imposta Sostitutiva Clause Samples
The "Imposta Sostitutiva" clause defines the application of a substitute tax in place of ordinary income taxes for certain financial transactions or contracts. Typically, this clause specifies the rate and timing of the substitute tax, clarifies which party is responsible for its payment, and outlines the types of transactions covered, such as interest on loans or capital gains. By establishing a clear and simplified tax regime, the clause streamlines tax compliance and reduces administrative burdens, ensuring both parties understand their fiscal obligations and minimizing the risk of disputes with tax authorities.
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Imposta Sostitutiva. This Agreement will benefit from the Imposta Sostitutiva regime.
Imposta Sostitutiva. Pursuant to article 17 of Presidential Decree No. 601 of 29 September, 1973, as amended by article 12 of Decree Law No. 145 of 23 December 2013, which, starting from 24 December 2013, provides for the application of the Imposta Sostitutiva on medium term financings provided that the parties exercise the applicable option in the relevant facilities agreement, the Original Borrower declares to the Lenders that, for the purposes of the aforementioned article 17, it does not require the application of the Imposta Sostitutiva in place of the ordinary documentary taxes. Accordingly, the Lenders agree to not subject the Facilities made available by them under this Agreement to Imposta Sostitutiva.