Common use of Liability for Tax Clause in Contracts

Liability for Tax. (a) No member of the Group has any liability in respect of Taxation (whether actual or contingent): (i) assessable or payable by reference to profits, gains, income or distributions earned, benefits claimed, received or paid or arising or deemed to arise on or at any time prior to the Balance Sheet Date; or (ii) referable to transactions effected on or before the Balance Sheet Date, that is not disclosed or provided for in the Financial Statements. (b) No member of the Group is or will become liable to pay or make reimbursement or indemnity in respect of any Taxation for which it is not primarily liable in consequence of the failure by any other person to discharge that Taxation within any specified period or otherwise, where such Taxation relates to a profit, income or gain, transaction, event, omission or circumstances arising, occurring or deemed to arise or occur (whether wholly or partly) prior to Completion.