Template:Nutshell 2002 ISDA 2(d)(i): Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "{{isdaprov|2(d)(i)}} {{isdaprov|Gross-Up}}. All payments must be made without withholding unless it is required by law. In that case the payer must: :(1) promptly notify recip...") |
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Revision as of 17:08, 11 April 2016
2(d)(i) Gross-Up. All payments must be made without withholding unless it is required by law. In that case the payer must:
- (1) promptly notify recipient;
- (2) pay the amount required to the tax authorities;
- (3) provide the recipient with evidence it has made the payment; and
- (4) where the withholding is an Indemnifiable Tax, gross the withholding up to the recipient.
A payer won't have to gross up where:
- (1) the recipient failed to provide necessary information to process a rebate; or
- (2) its Section 3(f) tax representations turned out to be wrong (unless that was brought about by a tax authority taking legal action or a Change in Tax Law after the Transaction was executed.