Common use of Value Added Tax (VAT Clause in Contracts

Value Added Tax (VAT. (a) The amounts payable by the Customer to Deswik for, or in connection with, any Supply under this Agreement do not include any VAT. (b) The Customer must pay Deswik an additional amount on account of VAT equal to the amounts payable by the Customer for the Supply multiplied by the prevailing VAT rate. (c) Subject to clause 7.6(d), the additional amount on account of VAT is payable at the same time and in the same manner as the amounts payable by the Customer are required to be paid to Deswik. (d) The Customer is not required to pay the additional amount on account of VAT until Deswik has provided the Customer with a tax invoice which is in an approved form for VAT purposes. (e) To the extent that the amounts for the Supply consist of the reimbursement or indemnity for any liabilities, costs or expenses incurred by Deswik, in this Agreement the amount of those liabilities, costs or expenses are deemed to be net of any refund or input tax credit of VAT to which Deswik is entitled as a result of incurring the liability, cost or expense.

Value Added Tax (VAT. (a) The amounts payable by the Customer Client to Deswik for, or in connection with, any Supply under this Agreement do not include any VAT. (b) The Customer Client must pay Deswik an additional amount on account of VAT equal to the amounts payable by the Customer Client for the Supply multiplied by the prevailing VAT rate. (c) Subject to clause 7.6(d6(d), the additional amount on account of VAT is payable at the same time and in the same manner as the amounts payable by the Customer Client are required to be paid to Deswik. (d) The Customer Client is not required to pay the additional amount on account of VAT until Deswik has provided the Customer Client with a tax invoice which is in an approved form for VAT purposes. (e) To the extent that the amounts for the Supply consist of the reimbursement or indemnity for any liabilities, costs or expenses incurred by Deswik, in this Agreement the amount of those liabilities, costs or expenses are deemed to be net of any refund or input tax credit of VAT to which Deswik is entitled as a result of incurring the liability, cost or expense.