Business Activity Tax definition

Business Activity Tax means any Taxes based upon a Party’s corporate franchise, capital, assets, profit, net income or general operations paid or payable by that Party.
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Business Activity Tax means a tax imposed on, or measured by, net income, a business license tax, a business and occupation tax, a franchise tax, a single business tax or a cap- ital stock tax, or any similar tax or fee im-
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Examples of Business Activity Tax in a sentence

  • Notwithstanding section 3, tax shall not be charged under this Act on income in respect of an offshore business activity carried on by an offshore company, other than an offshore company (in this Act referred to as “chargeable offshore company”), which has made an election under section 3A of the Labuan Offshore Business Activity Tax Act 1990.

  • Labuan offshore companies (under the Labuan Offshore Business Activity Tax Act 1990) are not entitled to the tax treaty benefits.

  • Business Activity Tax (BAT) Nexus StandardsThe possibility that states could be authorized to require remote vendors to collect sales and use taxes on interstate sales raised concerns that states would then attempt to impose income and other business taxes on those vendors.

  • The credit may only be taken for the year in which the Business Activity Tax is levied and if such tax is timely paid.

  • This Act shall have effect for the year of assessment 1991 and subsequent years of assessment.Note:(2) Where, on and after the date of the coming into operation of this Act, a reference is made in any written law to the Labuan Offshore Business Activity Tax Act 1990, such reference shall be construed as a reference to the Labuan Business Activity Tax Act 1990.

  • Based on Labuan Business Activity Tax (Amendment) Bill 2019 and clarification from Certified Tax Institute of Malaysia (“CTIM”) through its memorandum on issues arising from Labuan Business Activity Tax (Amendment) Bill 2019 dated 18 December 2019, Labuan business activity which is not listed in the amended regulations will be taxed under the Income Tax Act 1967.

  • Statutory provisions also include the ITA as a whole, Real Property Gains Tax Act 1976, Petroleum (Income Tax) Act 1967, Promotion of Investments Act 1986, Stamp Act 1949, Labuan Business Activity Tax Act 1990 and other acts administered by IRBM.

  • The Income Tax Act 1967 [ Act 53], the Promotion of Investments Act 1986 [Act 327], the Stamp Act 1949 [Act 378], the Real Property Gains Tax Act 1976 [Act 169], the Labuan Business Activity Tax Act 1990 [Act 445], the Service Tax Act 2018 [Act 807] and the Sales Tax Act 2018 [Act 806] are amended in the manner specified in Chapters II, III, IV, V, VI, VII and VIII respectively.

  • EXPLANATORY STATEMENT This Bill seeks to amend the Income Tax Act 1967 (“Act 53”), the Promotion of Investments Act 1986 (“Act 327”), the Stamp Act 1949 (“Act 378”), the Real Property Gains Tax Act 1976 (“Act 169”), the Labuan Business Activity Tax Act 1990 (“Act 445”), the Service Tax Act 2018 (“Act 807”) and the Sales Tax Act 2018 (“Act 806”).

  • You can’t have it both ways.” Quoted in: Doug Sheppard, “What’s the Appropriate Standard for Business Activity Tax Nexus?” State Tax Notes, March 4, 2002.

Related to Business Activity Tax

  • Business Activities shall be deemed to include any activities which are included in the Company's Business now or during the effective period of this Agreement.

  • Unitary business means one or more related business organizations engaged in business activity both within and outside the State among which there exists a unity of ownership, operation, and use; or an interdependence in their functions.

  • Competitive Activity will not include (i) the mere ownership of securities in any such enterprise and the exercise of rights appurtenant thereto or (ii) participation in the management of any such enterprise other than in connection with the competitive operations of such enterprise.

  • Activity means the rate of disintegration or transformation or decay of radioactive material. The units of activity are the becquerel (Bq) and the curie (Ci).

  • Controlled unaffiliated business means a company: