TS Taxes definition
TS Taxes means any and all taxes related to TS’ existence and business operations, as purchaser, under any applicable Commonwealth of Puerto Rico law or regulation, including, but not limited to, corporation income taxes and income tax withholding, municipal taxes (“patente”), and tangible or intangible personal property taxes, including any interests, penalties, surcharges or additions thereto, whether disputed or not, if applicable. It also includes all applicable sales and use taxes, transaction privilege taxes, excise taxes, or value added taxes, including any interests, penalties, surcharges or additions thereto, whether disputed or not, if applicable, and all new taxes established by the Commonwealth of Puerto Rico as long as they are all related to transactions covered under this Agreement, except for the taxes subsequent to the Effective Date applicable to software distributors marketing software in Puerto Rico as set forth as the responsibility for QCSI in Section 1.14.
Examples of TS Taxes in a sentence
TS will pay any and all License Fees, Maintenance and Support Fees and any other amounts payable pursuant to this Agreement net of any and all QCSI Taxes, plus any TS Taxes that QCSI may be required by Puerto Rico law or regulation to charge TS as a result of or in connection with this Agreement.