From The Jolly Contrarian
Jump to navigation
Jump to search
|
|
| (5 intermediate revisions by the same user not shown) |
| Line 1: |
Line 1: |
| {{fullanat2|isda|2(d)(i)|2002|2(d)(i)|1992}}
| | #redirect[[Deduction or Withholding for Tax - ISDA Provision]] |
| {{nuts|ISDA|Gross-Up}}
| |
| Section {{isdaprov|2(d)}} does the following:
| |
| *'''Net obligation''': if a counterparty suffers withholding it generally doesn’t have to gross up – it just remits tax to the revenue and pays net.
| |
| *'''Refund obligation where tax subsequently levied''': if a counterparty pays gross and subsequently is levied the tax, the recipient must refund an equivalent amount to the tax.
| |
| *'''{{isdaprov|Indemnifiable Tax}}''': the one exception is “Indemnifiable Tax” - this is tax arises as a result of the payer’s own status vis-à-vis the withholding jurisdiction. In that case the payer has to gross up.
| |
Latest revision as of 17:54, 29 March 2018