Template:M summ 2002 ISDA 4(d): Difference between revisions
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Amwelladmin (talk | contribs) Created page with "These reps allow the other party to pay without deduction for certain taxes. This covenant puts the onus on the payee (beneficiary) to ensure the other..." |
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These [[reps]] allow the other party to pay without [[Withholding tax|deduction]] for certain taxes. This covenant puts the onus on the payee (beneficiary) to ensure the other party (who is subject to the authority of the taxing authority in question) is not erroneously passing moneys | These [[reps]] allow the other party to pay without [[Withholding tax|deduction]] for certain taxes. This [[covenant]] puts the onus on the payee (beneficiary) to ensure the other party (who is subject to the authority of the taxing authority in question) is not erroneously passing through moneys that it should withhold and for which it will be personally liable to account to the tax authority. It also gives the aggrieved payer a direct right of action to claim those amounts back off the forgetful payee. | ||
Revision as of 15:21, 24 February 2020
These reps allow the other party to pay without deduction for certain taxes. This covenant puts the onus on the payee (beneficiary) to ensure the other party (who is subject to the authority of the taxing authority in question) is not erroneously passing through moneys that it should withhold and for which it will be personally liable to account to the tax authority. It also gives the aggrieved payer a direct right of action to claim those amounts back off the forgetful payee.