Value added tax 12 Clause Samples

Value added tax 12. 1 The parties shall use their respective reasonable endeavours to secure that the transfer of the Assets under this Agreement is treated under the Value Added Tax (Special Provisions) Order 1992 as neither a supply of goods nor a supply of services.

Value added tax 12. 6.1. All amounts set out or expressed to be payable under a Finance Document by any Party to a Finance Party which (in whole or in part) constitute the consideration for a supply or supplies for VAT purposes shall be deemed to be exclusive of any VAT which is chargeable on such supply or supplies, and accordingly, subject to Clause 12.6.2 below, if VAT is or becomes chargeable on any supply made by any Finance Party to any Party under a Finance Document and such Finance Party is required to account to the relevant tax authority for the VAT, that Party must pay to such Finance Party (in addition to and at the same time as paying any other consideration for such supply) an amount equal to the amount of the VAT (and such Finance Party must promptly provide an appropriate VAT invoice to that Party).