GCC Territory definition

GCC Territory. All territories of the GCC Member States. Local Law: The VAT Law and any relevant legislation issued by each Member State. Person: Any natural or legal person, public or private, or any other form of partnership. Taxable Person: A Person conducting an Economic Activity independently for the purpose of generating income, who is registered or obligated to register for VAT in accordance with the provisions of this Agreement.
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GCC Territory. All territories of the GCC Member States. The Ministerial Committee: The Financial and Economic Cooperation Committee of the GCC. Tax Administration: The governmental entity or department in the State having jurisdiction to administer, collect, and enforce the Tax. Excise Goods: Goods that are taxable under the provisions of this Agreement. Locally Produced Excise Goods: Excise goods produced within a Member State. Import of Excise Goods: Entry of excise goods from outside the GCC Territory to any Member State in accordance with the provisions of the Common Customs Law. Tax Suspension Situation: a situation in which the chargeability to tax of Locally Produced Excise Goods or Imported Excise Goods is suspended in accordance with the provisions of Article (5) of this Agreement.
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Examples of GCC Territory in a sentence

  • Supply of Goods from any Member State to the outside of the GCC Territory in accordance with the provisions of the Common Customs Law.

  • For Goods temporarily exported outside the GCC Territory for completion of manufacturing or repair thereof abroad, these Goods shall be taxed when reimported on the basis of value added to them as provided for in the Common Customs Law.

  • International Goods and passenger transport from and to the GCC Territory and the supply of transport-related Services.

  • When Goods are placed under customs duty suspension under the Common Customs Law immediately upon entry into the GCC Territory, then the place of import shall be in the Member State where these Goods were released from the duty suspension status.

  • The supply of Goods and Services out of the GCC Territory shall be subject to the zero-rate when such supply is exempt from Tax inside the Member State.

  • If a Taxable Person residing in a Member State receives Services from a person who is not resident in the GCC Territory, then that Person shall be deemed to have supplied these Services to himself and the Supply shall be taxable according to the Reverse Charge Mechanism.

  • If Bahrain has not introduced VAT by this date, this will be considered as an import of services from outside of GCC Territory.

  • Final Destination Point of Entry: Customs point of entry through which Goods enter the Final Destination State within the GCC Territory.

  • If Oman has not introduced VAT by this date, this will be considered the provision of services to a customer outside of GCC Territory, where the services are used outside of GCC Territory.

  • A movement of a person’s own goods outside of the GCC Territory is not a supply for VAT purposes, other than in the case of a Nominal Supply.

Related to GCC Territory

  • Licensed Territory means worldwide.

  • Territory means worldwide.

  • U.S. Territory means American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, the Commonwealth of Puerto Rico, or the U.S. Virgin Islands.

  • Service Territory means the geographic area within which PG&E as a Utility Distribution Company is authorized and required to provide electric transmission and distribution service.

  • Union territory means the territory of—

  • Geographic Territory means the United States of America, including all of its territories and possessions, unless otherwise specified.

  • Relevant Territory means Hong Kong or such other territory as the Directors may from time to time decide if the issued ordinary share capital of the Company is listed on a stock exchange in such territory;

  • Licensed Field means [***].

  • Exclusive Territory means (1) the states of Illinois, Wisconsin, and Indiana; and

  • the Territory means the sub-Saharan Continent, south of the 15N latitude.

  • Licensed Product means a product or part of a product in the Licensed Field of Use: (A) the making, using, importing or selling of which, absent this license, infringes, induces infringement, or contributes to infringement of a Licensed Patent; or (B) which is made with, uses or incorporates any Technology.

  • Sales territory means an area of exclusive sales responsibility for the brand or brands of beer sold by a supplier as designated by an agreement.

  • Collaboration Product means a pharmaceutical product containing or comprising Compound in any dosage form alone, or in combination with, one or more other pharmaceutically active ingredients, and any and all Improvements thereto.

  • Licensed Fields of Use means the fields of use identified in Appendix B.

  • customs territory means the territory of the country of each Contracting Party in which the Customs laws of that country are in force;

  • Licensed Products means tangible materials which, in the course of manufacture, use, sale, or importation, would be within the scope of one or more claims of the Licensed Patent Rights that have not been held unpatentable, invalid or unenforceable by an unappealed or unappealable judgment of a court of competent jurisdiction.

  • Licensed Field of Use means all fields.

  • Competing Product means [***].

  • complex product means a product which is composed of multiple components which can be replaced permitting disassembly and re-assembly of the product.

  • Competing Products means any product or service in existence or under development that competes with any product or service of the Company Group about which the Participant obtained Confidential Information or for which the Participant provided advisory services or had sales, origination, marketing, production, distribution, research or development responsibilities in the last twenty-four (24) months of employment with the Company Group.

  • Licensed Compounds means: (a) Research Program Active Compounds; (b) Novartis Active Compounds; (c) salts, hydrates, solvates, esters, metabolites, intermediates, stereoisomers and polymorphs of Research Program Active Compounds or Novartis Active Compounds; and (d) prodrugs of Research Program Active Compounds or Novartis Active Compounds (any of the foregoing, a “Licensed Compound”).

  • New Product means the Synology-branded hardware product and Synology-branded accessories contained in the original packaging Customer bought from an authorized Synology distributor or reseller. You may see our “New Product” at Product Support Status.

  • Commercialization or “Commercialize” means activities directed to marketing, promoting, research and development as required, manufacturing for sale, offering for sale, distributing, importing or selling a product, including sub-licensing or sub-contracting of these activities.

  • Coverage territory means the United States of America (including its territories and possessions), Puerto Rico and Canada.

  • Generic Product means a product which (a) contains as its active pharmaceutical ingredient a compound that is (or is substantially the same as) the Licensed Compound, and (b) has been placed on the market pursuant to a validly granted marketing authorization.

  • Sanctioned Territory means a country or territory that is the subject of comprehensive economic Sanctions including, without limitation, Cuba, Iran, North Korea, Syria and the Crimea.