Template:Nutshell GMRA 6(b): Difference between revisions
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{{gmraprov|6(b)}} {{gmraprov|Free of tax}}: All money payable under any {{gmraprov|Transaction}} must be paid free from and without withholding for tax, unless withholding is legally required. Where it is, the payer must [[gross up]] its payment so the net amount the payee receives (after withholding) equals the originally due amount had no tax been imposed. <br> | {{gmraprov|6(b)}} '''{{gmraprov|Free of tax}}''': All money payable under any {{gmraprov|Transaction}} must be paid free from and without withholding for tax, unless withholding is legally required. Where it is, the payer must [[gross up]] its payment so the net amount the payee receives (after withholding) equals the originally due amount had no tax been imposed. <br> | ||
Latest revision as of 08:46, 6 June 2022
6(b) Free of tax: All money payable under any Transaction must be paid free from and without withholding for tax, unless withholding is legally required. Where it is, the payer must gross up its payment so the net amount the payee receives (after withholding) equals the originally due amount had no tax been imposed.