Taxation Liability definition

Taxation Liability means any liability of any description that may be pursuant to a Tax Act however so described.

Taxation Liability means any Actual Taxation Liability, any Deemed Taxation Liability and any costs, fees and expenses falling within paragraph 11.1(g)

Taxation Liability means any liability of any description that may be incurred pursuant to a Taxation Act however so described.

Examples of Taxation Liability in a sentence

• In the event that any liability of the Warrantors under this Deed shall be found to be void but would be valid if the application thereof to a particular Claim or Taxation Liability were limited or deleted or omitted, such liability shall apply with such modification as may be necessary to make it valid and effective.

• The amount of the Taxation Liability of a Target Group Company resulting from a Tax Assessment and which is payable to the Buyer under this Deed shall be the amount of the payment due to be made or made by the Target Group Company in respect of the Taxation Liability resulting from the Tax Assessment.

• The Warrantors will not be liable for any Claim, Locked Box Claim or otherwise under this Agreement and accordingly no Claim, Locked Box Claim or other claim may be brought, in respect of any loss or liability of any member of the Group (including, without limitation, any Taxation Liability) arising as a result of, in connection with or by reference to, the Debt Capitalisation.

• The Buyer hereby covenants with and agrees to pay to the Sellers an amount equal to (on an after-tax basis) any liability which any member of the Sellers’ Group (other than Networks) incurs or becomes liable to pay under section 623(5) TCA as a result of any Taxation Liability under section 623 TCA arising in Networks as a result of Completion, not having been paid by Networks within 6 months after Completion.

• Actual Taxation Liability in respect of which the Purchaser would, but for that setting-off, have been able to make a claim against the Covenantor under this Deed.

More Definitions of Taxation Liability

Taxation Liability mean not only any payment or a liability to make any payment (or increased payment) of or in respect of Taxation (whether or not such payment is primarily payable by the Purchaser or the Company and whether or not the Purchaser or the Company has or may have any right of reimbursement from any other person) but also include:

Taxation Liability means any liability of the Company to make a payment of or in respect of Taxation whether or not the same is the primary liability of the Company and whether or not the Company has or may have a right of reimbursement against any other person and shall further include: 1.9.1 any Taxation which is assessed on any person other than the Company whether or not the Taxation is assessed in the name of the Company or the Purchaser and which, or an amount equivalent to which, is recoverable by that person from the Company pursuant to the provisions of the Taxation Legislation; 1.9.2 the loss or set-off of any Relief which was treated as an asset of the Company in the Accounts (where but for such set off the Company would have had an actual liability to Taxation in respect of which the Purchaser would have been able to have made a claim against the Vendors under this Deed); 1.9.3 the loss or set-off of any Relief which was taken into account in computing any provision for deferred tax which appears in the Accounts or would have appeared in the Accounts but for the presumed availability of such Relief (a "Notional Taxation Liability"); 1.9.4 the set-off of any Relief available to the Company or any member of the Purchaser's Group, which Relief arises principally as a result of an Event after Completion, in circumstances where but for such set-off there would have been a Taxation Liability in respect of which the Warrantors would have been liable to make a payment under clause 2 of this Deed: and, for the purposes of clauses 1.9.2, 1.9.3, and 1.9.4, the amount of the Relief so set- off or which would otherwise have been obtained shall be treated for the purposes of this Deed as a Taxation Liability of the Company provided that if such Relief would operate as a deduction from or as a set-off against income, profits or gains the Taxation Liability which is deemed to have arisen shall be equal to the amount of Taxation which would, on the basis of the rates of Taxation current at the date of such set-off, have otherwise been saved; provided also that the Taxation Liability which arises or is deemed to arise pursuant to this clause 1.9.4 shall not exceed the liability of the Warrantors to make a payment under this Deed which would have resulted had such a Relief not been set-off. 1.9.5 the liability of the Company under any agreement entered into on or before Completion to make a payment to another person in respect of Reliefs surrendered or otherwise made available to t...

Taxation Liability means any liability (not being an Adverse Taxation Liability) to any tax, value added tax, sales tax, duty, penalty, charge, levy, impost or any other cost or liability of any comparable nature and howsoever described (and whether in force prior to, at the time of or subsequent to the provision of the Services) to which the Buyer or any other person would be subject to the extent that, for the purposes of any applicable law or regulation, the Buyer or such other person is (or is treated as being substantially equivalent to) a buyer of fuel as though the fuel were bought for the use by, and account of, the Buyer or such other person (and not on behalf of, or for the ultimate use of, any third person) or otherwise is (or is treated as being substantially equivalent to) a recipient of any of the other Services.

Taxation Liability shall include:-

Taxation Liability in relation to any person, any Actual Taxation Liability or Deemed Taxation Liability of that person or any other liability of, or amount incurred by, or charged against, that person, in each case falling within any of paragraphs ‎2.1.1 to ‎2.1.6; and

Taxation Liability means an Actual Taxation Liability or a Deemed Taxation Liability or any other liability of or loss to the Company falling within clause 2.1 hereof;

Taxation Liability includes:- 1.12.1 any liability of any of the Target Companies or any Subsidiary to make or suffer an actual payment of taxation (or amount in respect of taxation), in which case the amount of the taxation liability shall be the amount of the liability; 1.12.2 the setting-off against taxation, income, profits or gains of any Accounts relief or any post-Completion relief or any refund of taxation to the extent that it results in a payment under paragraph 13.7 ("Relevant Refund") where, but for such setting-off, any of the Target Companies or any Subsidiary would have been subject to a taxation liability in respect of which the Purchaser would have been entitled to make a claim against the Covenantor under this Schedule (or would have been so entitled in the absence of any financial restrictions on such obligation) in which case the amount of the taxation liability shall be the amount of such claim or, where the relevant relief was a right to a repayment of taxation, the amount of the repayment; for these purposes if it would be practicable to use a relief other than an Accounts relief or post-Completion relief or Relevant Refund to offset any such actual liability to taxation, such other relief shall be deemed to have been used, and if it cannot be determined whether an Accounts relief or post-Completion relief or Relevant Refund on the one hand or such other relief on the other hand is so used, it shall be assumed that another relief is used in priority to any Accounts relief or post-Completion relief or Relevant Refund; 1.12.3 the denial or loss of an Accounts relief.