Residence for tax purposes Sample Clauses

Residence for tax purposes. In accordance with prevailing legislation, the Client must communicate its country or countries of residence for tax purposes to the Bank, and the tax identification number allocated by its country or countries of residence for tax purposes. For that purpose, the Bank may ask the Client to provide a “Self-certification of residence for tax purposes Natural person” and, as applicable, supporting documentation. It is in particular important to note that no account may be opened without first providing said Self- certification. It is incumbent upon the Client and not the Bank, to determine, under their own responsibility, their country of countries of residence for tax purposes. In this respect, the Client is invited to consult the OECD portal or to contact an independent tax adviser or the tax authorities concerned. The Client must inform the Bank of any change in circumstances affecting the status of its residence for tax purposes within 30 days and must for that purpose communicate a “Self-certification of residence for tax purposes Natural person” form to it within a period of 90 days. Said form is available from the Bank. For that purpose, the Bank draws the Client's attention to the fact that the status of residence for tax purposes may have significant fiscal consequences on its investments, income and earnings and affect this contract or any other contract entered into with the Bank. Moreover, its investments, income and earnings are also likely to be subject to regulations, in particular tax-related, in force in its State of residence for tax purposes. In this context, the Bank invites the Client to consult the tax authorities of his/her State of residence and to approach an independent tax advisor with a view to obtaining appropriate legal and tax advice. It is the Client’s responsibility to meet all of his/her tax-related obligations with regard in particular to the filing of returns or other documentation made mandatory by tax legislation as well as the payment of all relevant taxes and duties for which he/she is liable (income tax, wealth tax, death duties, social security contributions, etc.). The opening, holding and operating of an account may have tax implications for the Client depending on several factors including, but not limited to, the Client’s place of domicile, his/her place of residence, his/her citizenship or the type of assets that he/she holds. The tax legislation in certain countries may have extraterritorial scope regardless of ...
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Residence for tax purposes. Each Obligor is resident of the country set forth next to its name in Schedule 4.1.7 (and no other jurisdiction) for Tax purposes.
Residence for tax purposes. In accordance with prevailing legislation, the Client must communicate his/her country or countries of residence for tax purposes to the Bank and, if not a French resident for tax purposes, the tax identification number assigned by his/her country or countries of residence f or tax purposes. This inf ormation must be communicated before any account is opened. For that purpose, the Bank may ask the Client to provide a “Self - certif ication of residence f or tax purposes – Natural Person” and, as applicable, supporting documentation. It is incumbent upon the Client and not the Bank to determine, under his/her own responsibility, his/her country or countries of residence for tax purposes. In this respect, the Client is urged to consult the OECD portal or to contact an independent tax adviser or the tax authorities concerned.
Residence for tax purposes. The Seller is a company which is and has, since incorporation, been resident for United Kingdom tax purposes solely in the United Kingdom.
Residence for tax purposes. Each Group Company was incorporated in the UK and for the purposes of UK Tax is and has always been resident in the UK and will remain so at the Completion Date and no Group Company has ever been regarded as being resident or having a permanent establishment, branch or agency or place of business outside the UK or as being within the charge to Tax of any jurisdiction other than the UK.
Residence for tax purposes. The Borrower and each Guarantor is a resident of Canada (and no other jurisdiction) for tax purposes.
Residence for tax purposes. In accordance with prevailing legislation, the Client must communicate his/her country or countries of residence for tax purposes to the Bank and, if not a French resident for tax purposes, the tax identification number assigned by his/her country or countries of residence for tax purposes. This information must be communicated before any account is opened. For that purpose, the Bank may ask the Client to provide a “Self- certification of residence for tax purposes – Natural Person” and, as applicable, supporting documentation. It is incumbent upon the Client and not the Bank to determine, under his/her own responsibility, his/her country or countries of residence for tax purposes. In this respect, the Client is urged to consult the OECD portal or to contact an independent tax adviser or the tax authorities concerned. The Client must inform the Bank of any change in circumstances affecting the status of his/her residence for tax purposes within 30 days and must for that purpose submit a “Self-certification of residence for tax purposes – Natural Person” form to the Bank within a period of 90 days. Said form is available at the Client’s usual branch or from the following address: xxxx://xxx.xxx.xxxx.xxx/fr-fr/rbwm/france. For that purpose, the Bank draws the Client’s attention to the fact that the status of residence for tax purposes may have significant tax consequences on his/her investments, income and earnings and affect this contract or any other contract entered into with the Bank.
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Related to Residence for tax purposes

  • Allocations for Tax Purposes (a) Except as otherwise provided herein, for federal income tax purposes, each item of income, gain, loss and deduction shall be allocated among the Partners in the same manner as its correlative item of "book" income, gain, loss or deduction is allocated pursuant to Section 6.1. (b) In an attempt to eliminate Book-Tax Disparities attributable to a Contributed Property or Adjusted Property, items of income, gain, loss, depreciation, amortization and cost recovery deductions shall be allocated for federal income tax purposes among the Partners as follows: (i) (A) In the case of a Contributed Property, such items attributable thereto shall be allocated among the Partners in the manner provided under Section 704(c) of the Code that takes into account the variation between the Agreed Value of such property and its adjusted basis at the time of contribution; and (B) any item of Residual Gain or Residual Loss attributable to a Contributed Property shall be allocated among the Partners in the same manner as its correlative item of "book" gain or loss is allocated pursuant to Section 6.1. (ii) (A) In the case of an Adjusted Property, such items shall (1) first, be allocated among the Partners in a manner consistent with the principles of Section 704(c) of the Code to take into account the Unrealized Gain or Unrealized Loss attributable to such property and the allocations thereof pursuant to Section 5.5(d)(i) or 5.5(d)(ii), and (2) second, in the event such property was originally a Contributed Property, be allocated among the Partners in a manner consistent with Section 6.2(b)(i)(A); and (B) any item of Residual Gain or Residual Loss attributable to an Adjusted Property shall be allocated among the Partners in the same manner as its correlative item of "book" gain or loss is allocated pursuant to Section 6.1. (iii) The General Partner shall apply the principles of Treasury Regulation Section 1.704-3(d)

  • Adjustment for Tax Purposes The Company shall be entitled to make such reductions in the Conversion Price, in addition to those required by Section 4.6, as it in its discretion shall determine to be advisable in order that any stock dividends, subdivisions of shares, distributions of rights to purchase stock or securities or distributions of securities convertible into or exchangeable for stock hereafter made by the Company to its stockholders shall not be taxable.

  • Adjustments for Tax Purposes Any payments made pursuant to Section 2.04 shall be treated as an adjustment to the Purchase Price by the parties for Tax purposes, unless otherwise required by Law.

  • How Are Distributions from a Xxxx XXX Taxed for Federal Income Tax Purposes Amounts distributed to you are generally excludable from your gross income if they (i) are paid after you attain age 59½, (ii) are made to your beneficiary after your death, (iii) are attributable to your becoming disabled, (iv) subject to various limits, the distribution is used to purchase a first home or, in limited cases, a second or subsequent home for you, your spouse, or you or your spouse’s grandchild or ancestor, or (v) are rolled over to another Xxxx XXX. Regardless of the foregoing, if you or your beneficiary receives a distribution within the five-taxable-year period starting with the beginning of the year to which your initial contribution to your Xxxx XXX applies, the earnings on your account are includable in taxable income. In addition, if you roll over (convert) funds to your Xxxx XXX from another individual retirement plan (such as a Traditional IRA or another Xxxx XXX into which amounts were rolled from a Traditional IRA), the portion of a distribution attributable to rolled-over amounts which exceeds the amounts taxed in connection with the conversion to a Xxxx XXX is includable in income (and subject to penalty tax) if it is distributed prior to the end of the five-tax-year period beginning with the start of the tax year during which the rollover occurred. An amount taxed in connection with a rollover is subject to a 10% penalty tax if it is distributed before the end of the five-tax-year period. As noted above, the five-year holding period requirement is measured from the beginning of the five-taxable-year period beginning with the first taxable year for which you (or your spouse) made a contribution to a Xxxx XXX on your behalf. Previously, the law required that a separate five-year holding period apply to regular Xxxx XXX contributions and to amounts contributed to a Xxxx XXX as a result of the rollover or conversion of a Traditional IRA. Even though the holding period requirement has been simplified, it may still be advisable to keep regular Xxxx XXX contributions and rollover/ conversion Xxxx XXX contributions in separate accounts. This is because amounts withdrawn from a rollover/conversion Xxxx XXX within five years of the rollover/conversion may be subject to a 10% penalty tax. As noted above, a distribution from a Xxxx XXX that complies with all of the distribution and holding period requirements is excludable from your gross income. If you receive a distribution from a Xxxx XXX that does not comply with these rules, the part of the distribution that constitutes a return of your contributions will not be included in your taxable income, and the portion that represents earnings will be includable in your income. For this purpose, certain ordering rules apply. Amounts distributed to you are treated as coming first from your non-deductible contributions. The next portion of a distribution is treated as coming from amounts which have been rolled over (converted) from any non-Xxxx IRAs in the order such amounts were rolled over. Any remaining amounts (including all earnings) are distributed last. Any portion of your distribution which does not meet the criteria for exclusion from gross income may also be subject to a 10% penalty tax. Note that to the extent a distribution would be taxable to you, neither you nor anyone else can qualify for capital gains treatment for amounts distributed from your account. Similarly, you are not entitled to the special five- or ten- year averaging rule for lump-sum distributions that may be available to persons receiving distributions from certain other types of retirement plans. Rather, the taxable portion of any distribution is taxed to you as ordinary income. Your Xxxx XXX is not subject to taxes on excess distributions or on excess amounts remaining in your account as of your date of death. You must indicate on your distribution request whether federal income taxes should be withheld on a distribution from a Xxxx XXX. If you do not make a withholding election, we will not withhold federal or state income tax. Note that, for federal tax purposes (for example, for purposes of applying the ordering rules described above), Xxxx IRAs are considered separately from Traditional IRAs.

  • How Are Contributions to a Xxxx XXX Reported for Federal Tax Purposes You must file Form 5329 with the IRS to report and remit any penalties or excise taxes. In addition, certain contribution and distribution information must be reported to the IRS on Form 8606 (as an attachment to your federal income tax return.)

  • Business Tax Certificate Unless the City Treasurer determines in writing that a contractor is exempt from the payment of business tax, any contractor doing business with the City of San Diego is required to obtain a Business Tax Certificate (BTC) and to provide a copy of its BTC to the City before a Contract is executed.

  • Ownership Certificates for Tax Purposes The Custodian shall execute ownership and other certificates and affidavits for all federal and state tax purposes in connection with receipt of income or other payments with respect to domestic securities of each Portfolio held by it and in connection with transfers of securities.

  • Income Tax Allocations (a) Except as provided in this Section 9.4, each item of income, gain, loss and deduction of the Company for federal income tax purposes shall be allocated among the Members in the same manner as such items are allocated for book purposes under Sections 9.1, 9.2, 9.3 and 13.4(b). (b) In accordance with Code Section 704(c) and the applicable Treasury Regulations thereunder, income, gain, loss and deduction with respect to any property contributed to the Company shall, solely for tax purposes, be allocated among the Members so as to take account of any variation between the adjusted basis of such property to the Company for federal income tax purposes and its Gross Asset Value at the time of its contribution to the Company. If the Gross Asset Value of any Company property is adjusted in accordance with clause (c) or (d) of the definition of Gross Asset Value, then subsequent allocations of income, gain, loss and deduction shall take into account any variation between the adjusted basis of such property for federal income tax purposes and its Gross Asset Value as provided in Code Section 704(c) and the related Treasury Regulations. For purposes of such allocations, the Company shall elect the remedial allocation method described in Treasury Regulation Section 1.704-3(d). (c) All items of income, gain, loss, deduction and credit allocated to the Members in accordance with the provisions hereof and basis allocations recognized by the Company for federal income tax purposes shall be determined without regard to any election under Section 754 of the Code which may be made by the Company. (d) If any deductions for depreciation or cost recovery are recaptured as ordinary income upon the Transfer of Company properties, the ordinary income character of the gain from such Transfer shall be allocated among the Members in the same ratio as the deductions giving rise to such ordinary character were allocated.

  • Income Tax During each taxation year, the participating employee's income tax liability shall be in accordance with the Income Tax Act and directives from Canada Revenue Agency. Similarly, the withholding tax deducted at source by the College shall be in accordance with the Income Tax Act and directives from Canada Revenue Agency.

  • Income Tax Return Information Each Company will provide to the other Company information and documents relating to their respective Groups required by the other Company to prepare Tax Returns. The Responsible Company shall determine a reasonable compliance schedule for such purpose in accordance with Distributing Co.'s past practices. Any additional information or documents the Responsible Company requires to prepare such Tax Returns will be provided in accordance with past practices, if any, or as the Responsible Company reasonably requests and in sufficient time for the Responsible Company to file such Tax Returns on a timely basis.

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