TRANSACTION EXEMPTED FROM VAT Clause Samples

TRANSACTION EXEMPTED FROM VAT. Since the Agreement concerns the transfer of a business enterprise, the Seller and Purchaser shall jointly make an appeal to Article 31 of the 1968 Value Added Tax Act ('Wet op de Omzetbe-lasting 1968') and assume that, in the Netherlands, no value added tax (BTW") shall be payable relative to the consideration payable under Clause 3. In the event, and to the extent, that the Dutch tax authorities determine that Article 31 of the 1968 Value Added Tax Act does not apply to the said transfer, the Seller shall pay all BTW due.