Deduction of Tax. Under the laws of Serbia, it is not required to make any Tax Deduction (as defined in Clause 12.1 (Definitions)) from any payment it may make under any Finance Document except for withholding tax which shall be borne and indemnified by the Borrower under this Agreement. 17.8 No filing or stamp taxes It is not necessary that the Finance Documents be filed, recorded or enrolled with any court or other authority in that jurisdiction or that any stamp, registration or similar tax be paid on or in relation to the Finance Documents or the transactions contemplated by the Finance Documents, except that the borrowing under this Agreement shall be registered with the NBS in accordance with the Serbian law and the Ministry of Finance shall keep records on any obligation undertaken under or in relation to this Agreement and settlement of the obligations under or in relation this Agreement as well as to supervise the implementation of this Agreement.
Deduction of Tax. It is not required to make any deduction for Tax from any payment it may make under this Agreement to a Lender.