Common use of WITHHOLDING, ACCOUNTING AND TAX REQUIREMENTS Clause in Contracts

WITHHOLDING, ACCOUNTING AND TAX REQUIREMENTS. (Applicable both for Indian and foreign bidders) Contractor agrees for withholding from wages and salaries of its agents, servants, or employees all sums required to be withheld by the laws of the Republic of India or any other agency having jurisdiction over the area where Contractor is conducting operations, and to pay the same promptly when due to the proper authority. (Applicable for foreign parties) Contractor further agrees to comply with all accounting and reporting requirements of any nation having jurisdiction over the subject matter hereof and to conform to such laws and regulations and to pay the cost of such compliance. If requested by Operator, Contractor will furnish to operator evidence of payment or applicable taxes in the host country, on contractors expatriate employees. (BL/03/28 dated 16.04.2014)