Contract Tax definition

Contract Tax means: (i) customs duties, value added taxes ------------ ("VAT"), taxes, levies, fees and any similar fiscal cost imposed by the "Landing Jurisdiction" (the jurisdiction in which such -------------------- Supplies will be permanently located once incorporated into the System) on import of Supplies into the Landing Jurisdiction (hereinafter referred to collectively as "Import Fiscal Costs"); ------------------- (ii) VAT, sales tax, business tax, general sales tax, consumption tax, goods and services tax and any similar taxes imposed by the Landing Jurisdiction on the transfer of ownership of the Supplies from the Contractor to the Purchaser or provision of services in the Landing Jurisdiction by the Contractor on behalf of the Purchaser (hereinafter referred to collectively as "Transfer -------- Taxes"); and (iii) duties, levies, fees or fiscal stamps imposed ----- in respect of Contract legalizations, and use or property taxes imposed on the value of the Contract, or a portion thereof, by a Landing Jurisdiction (excluding any property taxes imposed on property owned by the Contractor that is not intended to be incorporated into the System) (hereinafter referred to collectively as "Purchase Taxes"). Any Taxes not addressed in this -------------- Contract are to be borne by the party upon whom they are imposed by the tax authorities.
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Contract Tax means taxes other than Excluded Taxes. "Contract Year" means the one (1) year period commencing with the first day of the Initial Term and each successive one (1) year period.
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Contract Tax means ad valorem taxes collected by the Denton County Fresh Water Supply District No. 4-A pursuant to the Joint Utility Contract dated January 13, 2009.
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Examples of Contract Tax in a sentence

  • Death Benefits Death Benefit Riders Living Benefit Riders Appendix: Funds Available Under the Contract Tax Implications Consult with a tax professional to determine the tax implications of an investment in and payments received under the Contract.

  • To the extent that a premium payment would cause such limits to be exceeded, we will refund the excess payment to you, in accordance with the Modified Endowment Contract Tax Status section of this policy.

  • In the event that a premium payment would cause the 7-Pay limit to be exceeded, we will refund the excess payment to you, unless you have provided a Written Request in which you accept your policy being classified as a Modified Endowment Contract and indicate that we may accept such payments and apply them to the policy, in accordance with the Modified Endowment Contract Tax Status section of this policy.

  • To the extent that a premium payment would cause such limits to be exceeded, we will refund the excess payment to you, in accordance with the Modified Endowment Contract Tax Status section of this Policy.

  • Unless and until you have given us a Written Request to accept a Modified Endowment Contract (“MEC”) classification for your Policy, the provisions of this Modified Endowment Contract Tax Status subsection apply to your Policy.

  • Unless and until you have given us a Written Request to accept a Modified Endowment Contract (“MEC”) classification for your policy, the provisions of this Modified Endowment Contract Tax Status subsection apply to your policy.

  • The Death Benefit under this Policy is subject to any increase required to qualify the Policy as Life Insurance (see Tax Qualification as Life Insurance), or to prevent this Policy from being classified as a MEC (see Modified Endowment Contract Tax Status).

  • Unless and until you specify otherwise by Written Request, any request for a decrease in Total Face Amount will not take effect if the requested change would cause the Policy to be classified as a Modified Endowment Contract under the Code in accordance with the Modified Endowment Contract Tax Status section of this Policy.

  • In the event that a premium payment would cause the 7-Pay limit to be exceeded, we will refund the excess payment to you, unless you have provided a Written Request in which you accept your Policy being classified as a Modified Endowment Contract and indicate that we may accept such payments and apply them to the Policy, in accordance with the Modified Endowment Contract Tax Status section of this Policy.

  • Modified Endowment Contract Tax Status — Unless and until you have given us a Written Request to accept a Modified Endowment Contract (“MEC”) classification for your policy, the provisions of this Modified Endowment Contract Tax Status subsection apply to your policy.

Related to Contract Tax

  • input tax , in relation to a vendor, means—

  • Relevant Tax means any present or future taxes, duties, assessments or governmental charges of whatever nature, imposed or levied by or on behalf of any Relevant Jurisdiction or any authority therein or thereof having the power to tax.

  • Sales Tax means all applicable provincial and federal sales, use, value-added or goods and services taxes, including GST/HST;

  • Relevant Tax Authority means HMRC, or, if applicable, the tax authority in the jurisdiction in which the Supplier is established;

  • Contract Charges means charges that accrue during a given month as defined in Article III. “Contract Term” is defined in Article IV.

  • VAT means Value Added Tax

  • Tax Invoice means the document as required by Section 20 of the VAT Act, as may be amended from time to time;

  • Input Tax Credit means the credit of input tax;

  • Indirect Tax means any goods and services tax, consumption tax, value added tax or any tax of a similar nature.

  • Contract Price means the price payable to the supplier under the contract for the full and proper performance of his contractual obligations.

  • Use tax means a nonrecurring tax, other than a sales tax, which (a) is imposed on or with respect to the exercise or enjoyment of any right or power over tangible personal property incident to the ownership, possession, or custody of that property or the leasing of that property from another including any consumption, keeping, retention, or other use of tangible personal property, and (b) is complementary to a sales tax.

  • GST means Goods and Services Tax charged on the supply of material(s) and services. The term “GST” shall be construed to include the Integrated Goods and Services Tax (hereinafter referred to as “IGST”) or Central Goods and Services Tax (hereinafter referred to as “CGST”) or State Goods and Services Tax (hereinafter referred to as “SGST”) or Union Territory Goods and Services Tax (hereinafter referred to as “UTGST”) depending upon the import / interstate or intrastate supplies, as the case may be. It shall also mean GST compensation Cess, if applicable.

  • Sales Taxes means any sales, use, consumption, goods and services, value added or similar tax, duty or charge imposed pursuant to Applicable Law.

  • Transfer Tax means any transfer, recording, registration and other fees and any similar taxes that become payable in connection with the Transactions (together with any related interest, penalties or additions to such taxes).

  • The Contract Price means the price payable to the Supplier under the Contract for the full and proper performance of its contractual obligations.

  • Local taxes means all taxes levied other than taxes levied for school operating purposes.

  • Asset Taxes means all ad valorem, property, excise, severance, production or similar Taxes (including any interest, fine, penalty or addition to Tax imposed by a taxing authority in connection with such Taxes) based upon operation or ownership of the Assets or the production of Hydrocarbons therefrom but excluding, for the avoidance of doubt, (a) income, capital gains, franchise and similar Taxes and (b) Transfer Taxes.

  • Capacity Payment means a payment to a capacity provider under these Regulations for its commitment to meet a capacity obligation during a delivery year;

  • Gross receipts tax means any gross receipts, sales, use, excise, value added or any similar tax.

  • New Taxes means (i) any Taxes enacted and effective after the Effective Date, including, without limitation, that portion of any Taxes or New Taxes that constitutes an increase, or (ii) any law, order, rule or regulation, or interpretation thereof, enacted and effective after the Effective Date resulting in the application of any Taxes to a new or different class of parties.

  • Production Tax Credit or “PTC” means the tax credit for electricity produced from certain renewable generation resources described in Section 45 of the Internal Revenue Code of 1986, as it may be amended or supplemented from time to time.

  • value added tax means value added tax charged in accordance with the Value Added Tax Act 1994.

  • Actual Tax Liability means, with respect to any Taxable Year, the liability for Covered Taxes of the Corporation (a) appearing on Tax Returns of the Corporation for such Taxable Year and (b) if applicable, determined in accordance with a Determination (including interest imposed in respect thereof under applicable law).

  • Medicare Levy Surcharge means an extra charge payable by high income earners beyond the standard Medicare Levy if they do not have qualifying private hospital insurance coverage. This charge is assessed as part of an individual or family’s annual tax return.

  • Property Tax means the general property tax due and paid as set

  • Specific local tax means a tax levied under 1974 PA 198, MCL 207.551 to 207.572, the commercial redevelopment act, 1978 PA 255, MCL 207.651 to 207.668, the technology park development act, 1984 PA 385, MCL 207.701 to 207.718, and 1953 PA 189, MCL 211.181 to 211.182. The initial assessed value or current assessed value of property subject to a specific local tax shall be the quotient of the specific local tax paid divided by the ad valorem millage rate. However, after 1993, the state tax commission shall prescribe the method for calculating the initial assessed value and current assessed value of property for which a specific local tax was paid in lieu of a property tax.