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VAT Provisions Clause Samples

A VAT provisions clause defines how Value Added Tax (VAT) is to be handled in the context of a contract. It typically specifies whether prices are inclusive or exclusive of VAT, outlines the responsibilities of each party for charging, collecting, and remitting VAT, and may address the process for issuing VAT invoices. This clause ensures that both parties are clear on their tax obligations, thereby preventing disputes and ensuring compliance with tax regulations.
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VAT Provisions. 20.1 Each amount stated to be payable by the Buyer to the Seller under or pursuant to this agreement is exclusive of VAT (if any). 20.2 If any VAT is chargeable on any supply made by the Seller under or pursuant to this agreement, the Buyer will pay the Seller an amount equal to that VAT, subject to the Seller supplying the Buyer with a VAT invoice at the time of payment.
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VAT Provisions. (i) All amounts expressed to be payable under any Loan Document by any Loan Party to any Secured Party which (in whole or in part) constitute the consideration for any supply for VAT purposes are deemed to be exclusive of any VAT which is chargeable on that supply, and accordingly, subject to Section 3.01(i)(ii) below, if VAT is or becomes chargeable on any supply made by any Secured Party to any Loan Party under a Loan Document and such Secured Party is required to account to the relevant tax authority for the VAT, such Loan Party shall pay to such Secured 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 Secured Party shall promptly provide an appropriate VAT invoice to such Loan Party) provided that the reverse charge mechanism is not applicable. Where the reverse charge is applicable, the relevant Loan Party shall properly and fully account for such VAT in its VAT returns within the prescribed time-limits for filing such returns in its jurisdiction. (ii) If VAT is or becomes chargeable on any supply made by any Secured Party (the “Supplier”) to any other Secured Party (the “Supply Recipient”) under a Loan Document, and any party other than the Supply Recipient (the “Relevant Party”) is required by the terms of any Loan Document to pay an amount equal to the consideration for that supply to the Supplier (rather than being required to reimburse or indemnify the Supply Recipient in respect of that consideration): (A) (where the Supplier is the Person required to account to the relevant tax authority for the VAT) the Relevant Party must also pay to the Supplier (at the same time as paying that amount) an additional amount equal to the amount of the VAT. The Supply Recipient must (where this clause (A) applies) promptly pay to the Relevant Party an amount equal to any credit or repayment the Supply Recipient receives from the relevant tax authority which the Supply Recipient reasonably determines relates to the VAT chargeable on that supply; and (B) (where the Supply Recipient is the Person required to account to the relevant tax authority for the VAT) the Relevant Party must promptly, following demand from the Supply Recipient, pay to the Supply Recipient an amount equal to the VAT chargeable on that supply but only to the extent that the Supply Recipient reasonably determines that it is not entitled to credit or repayment from the relevant tax authority in respe...
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VAT Provisions. (a) With respect to any jurisdiction in which a Target Company is a member of a VAT group with a Seller or another Affiliate of Parent, at Purchaser's request: (i) Parent shall, and shall cause Sellers to, cooperate reasonably with Purchaser with respect to the preservation of such a VAT group, if possible; and (ii) (A) Parent shall, on or before the applicable Closing, give notice to the relevant Taxing Authority (copying the notice to Purchaser) that the relevant Target Companies will cease to be under Parent's control with effect from the applicable Closing and will use its best efforts to procure that the date on which each Target Company ceases to be a member of such Seller's or Affiliate's VAT group falls on the applicable Closing;
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VAT Provisions. ‌ Pursuant to the provisions of Articles 3 and 4 of the Protocol on the Privileges and Immunities of the European Union, the European Commission is exempt from all taxes and duties, including value added tax. No exemption shall be granted in respect of taxes and dues which amount merely to charges for public utility services. The contractor is invited to carefully read the Article II.18. (Invoices and value added tax) of this contract.
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VAT Provisions. ‌ Pursuant to the provisions of Articles 3 and 4 of the Protocol on the Privileges and Immunities of the European Union, the European Commission is exempt from all taxes and duties, including value added tax. No exemption shall be granted in respect of taxes and dues which amount merely to charges for public utility services. The contractor is invited to carefully read the Article II.18 of this contract. As regards the transfer of goods in the performance of its institutional duties the European Commission is totally exempt from duties, levies and taxes pursuant to the provisions of Law No 906 of 1 August 1960, Articles 5, 6 and 7 of Annex F (Official Journal No 212 of 31 August 1960) confirmed by Articles 3 and 4 of the Protocol on the Privileges and Immunities of the European Union. Where the transaction is taxable for VAT purposes in Italy, the provisions of the present contract constitute official request of VAT exemption. The corresponding invoices must be sent, without VAT, with the following sentence: For the transfer of goods: “Operazione non imponibile ai sensi ▇▇▇▇▇ ▇▇▇▇▇ 1 ▇▇▇▇▇▇ 1960 n° 906, in particolare l’Allegato F, Articoli 5, 6 e 7 (G.U. n° 212 del 31/08/1960), come confermato dall’Articolo 72 del D.P.R. n° 633 del 26/10/1972 e successive integrazioni”. or Where the transaction is taxable for VAT purposes in another Member State of the European Union in which the fiscal legislation allows direct VAT exemption, the corresponding invoices must be sent, without VAT, with the following sentence: “VAT exemption / European Union / Article 151 of Council Directive 2006/112/EC”. or Where the transaction is taxable for VAT purposes in another EU Member State in which the fiscal legislation does not allow a direct VAT exemption, the corresponding invoice(s) must be sent with VAT, including the following statement: "V.A.T. exemption / European Union / Article 151 of Council Directive 2006/112/EC". At the request of the contracting authority, the contractor shall make available to it all the supporting documents which the contracting authority might need in order to apply to the tax authorities for the reimbursement pursuant to Articles 3 and 4 of the Protocol on the Privileges and Immunities of the European Union of any duties and taxes paid in the course of the performance of the FWC.
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VAT Provisions. (a) With respect to any jurisdiction in which a Target Company is a member of a VAT group with a Seller or another Affiliate of Parent, at Purchaser’s request:
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Related to VAT Provisions

  • Put Provisions Upon a Change of Control, any Holder of Securities will have the right to cause the Company to repurchase all or any part of the Securities of such Holder at a repurchase price equal to 101% of the principal amount of the Securities to be repurchased plus accrued interest to the date of repurchase (subject to the right of holders of record on the relevant record date to receive interest due on the related interest payment date) as provided in, and subject to the terms of, the Indenture.

  • Agreement Provisions If the Company, on behalf of any Account, purchases Trust Portfolio shares (“Eligible Shares”) that are subject to a Rule 12b-1 plan adopted under the 1940 Act (the “Plan”), the Company, on behalf of its Distributor, may participate in the Plan.

  • Contract Provisions The Recipient will ensure that all Contracts are consistent with and incorporate the relevant provisions of the Agreement, including its insurance provisions. More specifically, but without limiting the generality of the foregoing, the Recipient agrees to include provisions in all Contracts to ensure: (a) that proper and accurate accounts and records are kept and maintained as described in the Agreement including, but not limited to, in paragraph A.7.3(a); (b) that all applicable Requirements of Law including, without limitation, labour and human rights legislation, are complied with; and (c) that the Contract secures the respective rights of the Province and Canada, and any authorized representative or independent auditor identified by the Province or Canada, and the Auditor General of Ontario and the Auditor General of Canada to: (i) inspect and audit the terms of any Contract, record or account in respect of the Project; and (ii) have free and timely access to the Project sites and facilities, and any records, documentation or information, as contemplated pursuant to section A.7.5 (Inspection and Removal).

  • Buyout Provisions The Committee may at any time (i) offer to buy out for a payment in cash or cash equivalents an Option previously granted or (ii) authorize a Participant to elect to cash out an Option previously granted, in either case at such time and based upon such terms and conditions as the Committee shall establish.

  • Audit Provisions The Commonwealth shall have the right, at reasonable times and at a site designated by the Commonwealth, to audit the books, documents, and records of the Parties to the extent that the books, documents, and records relate to the Parties’ compliance with the provisions set forth in subsection (b) above or to the Small Diverse Business or Small Business Commitment effectuated through this Subcontract. The Parties shall preserve such books, documents, and records for a period of three years from the date of final payment hereunder. The Parties shall give full and free access to all such records to the Commonwealth and/or its authorized representatives.

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