Profit Tax definition

Profit Tax is defined as set forth in Article 17.

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Profit Tax shall have the meaning given to it in Article 12.1(a).

Profit Tax means the tax on profits from Petroleum Operations payable by the Investor Parties pursuant to Article 24. „Porez na dobit” znači porez na dobit iz Rudarskih radova ▇▇▇▇ ▇▇▇▇▇▇ investitora plaćaju u skladu s člankom 24.

Examples of Profit Tax in a sentence

• For purposes of determining Tax Book Profit, Tax Book Loss or any other items allocable to any period, such items shall be determined on a daily, monthly or other basis, as determined by the Board of Managers using any permissible method under Section 706 of the Code and the Treasury Regulations promulgated thereunder.

• Upon completing such audit, the Tax Inspectorate shall discuss any proposed adjustments with the Contractor Party and, where appropriate, issue a notice of additional Profit Tax due or a notice of refund.

• The purpose of this Accounting Procedure is not to define Costs and Expenses for the purposes of determining Cost Recovery Petroleum or to define what costs will be deductible in the calculation of Profit Tax.

• Mənfəət vergisi üzrə ilkin bəyannamə təqdim edildiyi halda, Podratçı tərəf ▇▇▇▇ ▇▇▇▇ otuz (30) iyun tarixinədək Mənfəət vergisi üzrə yekun bəyannaməni auditorun müvafiq arayışı ilə birlikdə təqdim etmək hüququna malikdir; (v) submit Profit Tax returns for each Calendar Year, together with an appropriate opinion from the auditor, to the Tax Authority no later than the fifteenth (15th) April of the following Calendar Year.

• Notwithstanding Contractor's obligation to pay Profit Tax, the Tax Authority shall look solely to SOCAR for the payment of the Contractor's Profit Tax, unless Contractor elects to make any Profit Tax payments according to the provisions of Article 12.2(d)(iii).

• Any Operating Company shall be entitled to all the exemptions and privileges accorded to the MEP Participants under this Article 8 and shall have no Profit Tax liability or compliance or filing obligations.

• Non-Operators authorize Operator to prepare and not submit such documents as may be required to be submitted to the purchaser of any crude oil sold hereunder or to any other person or entity pursuant to the requirements of the "Crude Oil Windfall Profit Tax Act of 1980”, as same may be amended from time to time ("Act"), and any valid regulations or rules which may be issued by the Treasury Department from time to time pursuant to said Act.

• Notwithstanding Contractor's obligation to pay Profit Tax, the Tax Authority shall look solely to SOCAR for the payment of the Contractor's Profit Tax, unless Contractor elects to make any Profit Tax payments according to the provisions of Article 12.2(d)(iii) of this Agreement.

• Except as may be required by section 704(c) of the Code, and Sections 12.2 and 12.3 hereof, Tax Profit, Tax Loss and other items of income, gain, loss, deduction and credit shall be apportioned among the Members in proportion to their Membership Interests.

• All State or Governmental Taxes, duties, assessments and charges, of every kind and nature (except for the Profit Tax determined in accordance with the provisions of Article 17 of the Contract), assessed or levied upon or in connection with the Petroleum Operations.

More Definitions of Profit Tax

Profit Tax means the tax upon Contractor’s taxable profit from Petroleum Operations, as provided for in paragraph 16.1 hereunder. 1.56 “R Factor” means, for the purposes of Article 13 hereunder, the ratio of the cumulative sum of the Contract Revenues to the Cumulative sum of the Contract Expenses. 1.57 “Renewal Period” means the First Renewal Period or the Second Renewal Period referred to in paragraphs 4.1.2 and 4.1.3 hereunder. 1.58 “Reservoir” means a porous and permeable stratum capable of producing Petroleum and which must be considered, because of the character of the substances it holds (similitude of physical properties, density, Gas-Oil ratio, viscosity and a pressure relationship) as a unit in regard to its natural exploitation. 1.59 “Second Renewal Period” has the meaning ascribed to it in paragraph 4.1.3

Profit Tax means the tax upon Contractor’s taxable profit from Petroleum Operations, as provided for in paragraph 16.1 hereunder.

Profit Tax is defined in Section 8.2(i).