Timing Difference definition

Timing Difference means an increase in income, gain or recapture, or a decrease in deduction, loss or credit, as calculated for Income Tax purposes, of the taxpayer for any Post-Tax Indemnification Period coupled with an increase in deduction, loss or credit, or a decrease in income, gain or recapture, of the taxpayer for the Tax Indemnification Period.

Timing Difference means an adjustment to a Tax Return that results in (a) an increase in income, gain or recapture, or a decrease in deduction, loss or credit, of any Parent Entity for any Pre-Closing Tax Period and (b) an increase in deduction, loss or credit, or a decrease in income, gain or recapture, of any member of the SpinCo Group for a Post-Closing Tax Period.

Timing Difference means a decrease in income, gain or recapture, or an increase in deduction, loss or credit, as calculated for Income Tax purposes, of the taxpayer for any taxable period coupled with a decrease in deduction, loss or credit, or an increase in income, gain or recapture, of the taxpayer or a related taxpayer for the same or a subsequent taxable period.

Examples of Timing Difference in a sentence

• Current tax is determined as the amount of tax payable in respect of taxable income for the year.There is no Timing Difference in Book Profit and Taxable Profit of the Company.

• Deferred Tax Assets :Timing Difference for various items restrictedIII.

• Deferred tax asset / Liability is Nil as there is no Timing Difference on account of Income referred to in Profit and Loss account and Computation of Income.

• The party obtaining the Tax Change benefit will pay to the party incurring the Tax Change detriment the amount of the benefit, without interest, on the earlier of (i) the due date of the Income Tax Return on which the benefit is claimed (unless that return was filed before the Timing Difference arose), (ii) the date that a refund of the tax benefit is received, or (iii) the date that a taxing authority applies the tax benefit to an amount owed by the party receiving the tax benefit.

• If any item of income, gain, recapture, loss, deduction, or credit of the GM Group is adjusted as part of a Final Determination for any tax year (whether or not this Agreement applies to that tax year), and the adjustment results in a Timing Difference, GM or Delphi, as appropriate, will pay to the party incurring the tax detriment an amount equal to the Tax Change.

More Definitions of Timing Difference

Timing Difference means an increase in income, gain or recapture, or a decrease in deduction, loss or credit, as calculated for Income Tax purposes, of the taxpayer for any Post-Tax Indemnification Period coupled with an increase in deduction, loss or credit, or a decrease in income, gain or recapture, of the taxpayer for the Tax Indemnification Period. "Transfer Taxes" means all transfer, documentary, sales, use, registration, value-added and other similar Taxes (including all applicable real estate transfer Taxes and real property transfer gains Taxes) and related amounts (including any penalties, interest and additions to Tax) arising as a result of or otherwise incurred in connection with any of the transactions contemplated by the Merger Agreement or the Ancillary Agreements.

Timing Difference means an adjustment to the taxable income or credits of the GM Group which results in (i) an increase or decrease in the income, gain, recapture, deduction, loss or credit of either the GM Group or the Delphi Group for a particular tax year, and (ii) an offsetting increase or decrease in deduction, loss, credit, income, gain or recapture of the other party for other tax years. Timing Difference also means an adjustment to the taxable income of the Delphi Group and an offsetting adjustment to the taxable income of the GM Group for the same tax year.

Timing Difference means, unless otherwise indicated or where the context otherwise requires, the difference between the amount of debt portfolio purchases reported for a period and the amount of cash payments made in relation to debt portfolio purchases in such period;

Timing Difference means an adjustment to an Income Tax Return that results in (x) an increase in income, gain or recapture, or a decrease in deduction, loss or credit, as calculated for Income Tax purposes, of any member of the Networks Group for any Post-Distribution Taxable Period or the portion of a Straddle Period beginning on the day after the Distribution Date and (y) an increase in deduction, loss or credit, or a decrease in income, gain or recapture, of a member of the General Signal Consolidated Group for a Pre-Distribution Taxable Period or the portion of a Straddle Period ending on the Distribution Date.

Timing Difference means an increase in income, gain or recapture, or a decrease in deduction, loss or credit, of the Company or any of the Subsidiaries for any Post-Tax Indemnification Period coupled with an increase in deduction, loss or credit, or a decrease in income, gain or recapture, of the Company or any of the Subsidiaries for the Tax Indemnification Period. For purposes of the preceding definitions, (y) a Straddle Period shall be treated as consisting of two taxable periods, one period beginning on the first day of the Straddle Period and ending on the date of this Agreement, and the second period beginning on the following day and ending on the day on which the Straddle Period ends and (z) the items of income, gain, recapture, deduction, loss and credit referred to in the definitions of Reverse Timing Difference and Timing Difference in clauses (iii) and (iv) above shall be as calculated for Income Tax purposes.

Timing Difference is defined in Section 5.2.

Timing Difference as defined in Section 11.4.2.2.