Group Tax Relief means any right to allocate or reallocate Tax or Reliefs otherwise than by means of a Group Tax Arrangement between members of a group or consortium or other association for Tax purposes including by way of (i) the surrender of losses, (ii) the surrender of Tax refunds, (iii) the surrender of relievable Tax, (iv) the ability to allocate or reallocate a profit, gain or loss for Tax purposes or the ability to reduce or exempt the taxable income of one entity as a result of the increase in the taxable income of another entity (including by way of disallowance of a Relief), (v) the ability to allocate or reallocate Degrouping Taxation, (vi) the ability to rollover a gain on the assets of one member into the cost (for Tax purposes) of the assets of another, (vii) the ability to allocate or reallocate any liability to settle Tax or (viii) the ability to disregard entities for Tax purposes with the consequence that the Tax liability falls on a different entity.
Group Tax Relief means any right, in any jurisdiction, to allocate or reallocate Taxes or Reliefs between members of a group or consortium or other association for Tax purposes including by way of (i) the surrender of losses, (ii) the surrender of Tax refunds, (iii) the surrender of relievable Tax, (iv) the ability to allocate or reallocate a profit, gain or loss for Tax purposes, (v) the ability to allocate or reallocate any Tax arising as a result of any company ceasing to be a member of a group or consortium or other association for Tax purposes, (vi) the ability to rollover a gain on the assets of one member into the cost (for Tax purposes) of the assets of another, or (vii) the ability to allocate or reallocate any other Relief between members of a group or consortium or other association for Tax purposes.
Group Tax Relief any right to reallocate Tax and Reliefs between members of a group or consortium or other association for Tax purposes including by way of (a) the surrender of losses, (b) the surrender of Tax refunds, (c) the surrender of relievable Tax, (d) the ability to reallocate a profit, gain or loss for Tax purposes, (e) the ability to reallocate any Tax arising as a result of any Transferred Company ceasing to be a member of a group or consortium or other association for Tax purposes with the Sellers, (f) the ability to rollover a gain on the assets of one member into the cost (for Tax purposes) of the assets of another, (g) the ability to reallocate any liability to settle Tax, (h) the ability to disregard entities for Tax purposes with the consequence that the Tax liability falls on a different entity and (i) the ability to transfer any other Relief between members of a group or consortium or other association for Taxation purposes, whether in the United Kingdom or any other jurisdiction.
Examples of Group Tax Relief in a sentence
NOTED, Appendix 2 (containing exempt information) in support of Report No.206 – Group Tax Relief as detailed in Minute No.4 above.
In addition, it also provided $945,313 of tax losses to Island Pacific (UK) Limited during the year by taking advantage of Group Tax Relief.
In addition, it also provided $369,818 of tax losses to Island Pacific (UK) Limited during the year by taking advantage of Group Tax Relief.
Quarter Ended 31.03.2231.03.21 RM’000RM’000 Tax expense / (income)Current year Prior year Deferred tax expense / (income) The tax expense for the current quarter despite losses recorded by the Group were mainly due to tax charges in certain profitable subsidiaries of the Company, certain expenses being disallowed for tax purposes and absence of Group Tax Relief to utilize some of the tax losses in the subsidiaries of the Company.
During the year, it used$565,997 of tax losses from Intelligent Retail Limited by taking advantage of Group Tax Relief.
More Definitions of Group Tax Relief
Group Tax Relief means any right, in any jurisdiction, to allocate or reallocate Taxes or Reliefs between members of a group or consortium or other association for Tax purposes including by way of (i) the surrender of losses, (ii) the surrender of Tax refunds, (iii) the surrender of relievable Tax,
Group Tax Relief means any Relief available between members of a group, fiscal unity or consolidation for Taxation purposes whether in the United Kingdom or any other jurisdiction;
Group Tax Relief means any right to allocate or reallocate Tax or Reliefs otherwise than by means of a Group Tax Arrangement between members of a group or consortium or other association for Tax purposes including by way of (i) the surrender of losses, (ii) the surrender of Tax refunds, (iii) the surrender of relievable Tax, (iv) the ability to allocate or reallocate a profit, gain or loss for Tax purposes or the ability to reduce or exempt the taxable income of one entity as a result of the increase in the taxable income of another entity (including by way of disallowance of a Relief), (v) the ability to allocate or reallocate Degrouping Taxation, (vi) the ability to rollover a gain on the assets of one member into the cost (for Tax purposes) of the assets of another, (vii) the ability to allocate or reallocate any liability to settle Tax or (viii) the ability to disregard entities for Tax purposes with the consequence that the Tax liability falls on a different entity. “Hazardous Materials” means all substances, materials, mixtures, items and wastes defined, classified, regulated or characterized under any Environmental Law as hazardous, dangerous, flammable, toxic, corrosive, a contaminant, a pollutant or words of similar meaning, including asbestos or asbestos containing materials, lead or lead containing materials, polychlorinated biphenyls and radiation (but excluding gaseous, particles or other emissions by vehicles). “HMRC” means Her Majesty’s Revenue & Customs. “IBC” has the meaning set forth in Exhibit 6.3(e). “Indemnified Taxes” means, without duplication, (i) the Pre-Closing Taxes; (ii) any Taxes, or payment in respect of a Tax, due by the Target Group Companies or any Controlled Dealership
Group Tax Relief has the meaning given to that term in Schedule 8;
Group Tax Relief means any right to reallocate Taxation and Reliefs between members of a group or consortium or other association for Taxation purposes including by way of (i) the surrender of losses, (ii) the surrender of tax refunds, (iii) the surrender of relievable tax, (iv) the ability to reallocate a profit, gain or loss for tax purposes, (v) the ability to reallocate Degrouping Taxation, (vi) the ability to rollover a gain on the assets of one member into the cost (for Tax purposes) of the assets of another, (vii) the ability to reallocate any liability to settle Tax, (viii) the ability to disregard entities for Tax purposes with the consequence that the Tax liability falls on a different entity or (ix) the ability to transfer any other Relief between members of a group or consortium or other association for Taxation purposes, whether in the United Kingdom or any other jurisdiction;
Group Tax Relief has the meaning given to it in the Tax Indemnity;
Group Tax Relief means any right to allocate or reallocate Taxation or Reliefs between members of a group or consortium or other association for Taxation purposes including (without limitation) by way of (i) the surrender of losses, (ii) the surrender of Tax refunds, (iii) the surrender of relievable Tax, (iv) the ability to allocate or reallocate a profit, gain or loss for Taxation purposes, (v) the ability to rollover a gain on the assets of one member into the cost (for Taxation purposes) of the assets of another, (vi) the ability to allocate or reallocate any liability to settle Taxation; or (vii) the ability to disregard entities for Taxation purposes with the consequence that the Tax liability falls on a different entity; Heads of Terms means the agreed form heads of terms of (i) the MC Library Selling and Marketing Agreement, a copy of which is included in Schedule 17 (Heads of terms MC Library Selling and Marketing Agreement), (ii) the Technological and Commercial Agreement, a copy of which is included in Schedule 18 (Heads of terms Technological and Commercial Agreement)and (iii) the Transitional Services Agreement, a copy of which is included in Schedule 20 (Framework Transitional Services Agreement); Indebtedness Statement has the meaning set out in Clause 7.1.1; Information has the meaning set out in Clause 4.7.4;