Template:UKA Annex (d)(viii): Difference between revisions

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{{euaprov|(d)(viii)}} '''{{euaprov|Value Added Taxes}}'''<br>
{{ukaprov|(d)(viii)}} '''{{ukaprov|Value Added Taxes}}'''<br>
:(1) All amounts referred to in this Part or in a {{euaprov|Confirmation}} for an {{euaprov|EU Emissions Allowance Transaction}} are exclusive of any applicable {{euaprov|Value Added Taxes}} (“'''{{euaprov|VAT}}'''”) which are or may become chargeable in respect of the supply or supplies for which such sums form the whole or part of the consideration for {{euaprov|VAT}} purposes, and any such {{euaprov|VAT}} shall be payable in addition to any such other consideration in accordance with the provisions set out below.
:(1) All amounts referred to in this Part or in a {{ukaprov|Confirmation}} for a {{ukaprov|UK Emissions Allowance Transaction}} are exclusive of any applicable {{ukaprov|Value Added Taxes}} (“'''{{ukaprov|VAT}}'''”) which are or may become chargeable in respect of the supply or supplies for which such sums form the whole or part of the consideration for {{ukaprov|VAT}} purposes, and any such {{ukaprov|VAT}} shall be payable in addition to any such other consideration in accordance with the provisions set out below.
:(2) {{euaprov|Receiving Party}} shall either (A) subject to receipt of an appropriate {{euaprov|VAT Invoice}} in respect of such supply or supplies stating inter alia the amount of VAT properly chargeable thereon (the “{{euaprov|VAT Amount}}”), pay to {{euaprov|Delivering Party}} a sum equal to the {{euaprov|VAT Amount}} on the Payment Date; or (B) where, under the provisions of the applicable {{euaprov|VAT}} legislation, {{euaprov|Receiving Party}} is required to self-assess and account for any {{euaprov|VAT}} chargeable in respect of such supply, account for such {{euaprov|VAT}}.
:(2) {{ukaprov|Receiving Party}} shall either (A) subject to receipt of an appropriate {{ukaprov|VAT Invoice}} in respect of such supply or supplies stating inter alia the amount of VAT properly chargeable thereon (the “{{ukaprov|VAT Amount}}”), pay to {{ukaprov|Delivering Party}} a sum equal to the {{ukaprov|VAT Amount}} on the Payment Date; or (B) where, under the provisions of the applicable {{ukaprov|VAT}} legislation, {{ukaprov|Receiving Party}} is required to self-assess and account for any {{ukaprov|VAT}} chargeable in respect of such supply under the reverse charge mechanism, account for such {{ukaprov|VAT}}.
:(3) On each date on which an {{euaprov|EU Emissions Allowance Transaction}} is entered into, {{euaprov|Receiving Party}} represents to {{euaprov|Delivering Party}} that:
:(3) On each date on which a {{ukaprov|UK Emissions Allowance Transaction}} is entered into, {{ukaprov|Receiving Party}} represents to {{ukaprov|Delivering Party}} that:
::(A) for {{euaprov|VAT}} purposes, {{euaprov|Receiving Party}} receives the services supplied pursuant to the {{euaprov|EU Emissions Allowance Transaction}} in connection with an establishment of {{euaprov|Receiving Party}} in that party’s {{euaprov|VAT Jurisdiction}}; and
::(A) for {{ukaprov|VAT}} purposes, {{ukaprov|Receiving Party}} receives the services supplied pursuant to the {{ukaprov|UK Emissions Allowance Transaction}} in connection with an establishment of {{ukaprov|Receiving Party}} in that party’s {{ukaprov|VAT Jurisdiction}}; and
::(B) it is a taxable person for the purposes of Article 9 of the European Community Directive 2006/112/EC and receives such supply for the purposes of a business carried on by it.
::(B) it is a taxable person for the purposes of section 3 of the Value Added Tax Act 1994 or Article 9 of the European Community Directive 2006/112/EC (as appropriate) and receives such supply for the purposes of a business carried on by it.
:(4) Subject to each party’s obligations relating to {{euaprov|VAT}}, each party shall cause all royalties, {{isdaprov|Taxes}}, duties, and other sums (including any environmental tax or levy) legally payable by that party arising in connection with an {{euaprov|EU Emissions Allowance Transaction}} to be paid, and shall reimburse the other party to the extent that party is required to pay any such royalties, {{isdaprov|Taxes}}, duties or other sums for which the first party is primarily liable. <br>
:(4) Subject to each party’s obligations relating to {{ukaprov|VAT}}, each party shall cause all royalties, {{isdaprov|Taxes}}, duties, and other sums (including any environmental tax or levy) legally payable by that party arising in connection with a {{ukaprov|UK Emissions Allowance Transaction}} to be paid, and shall reimburse the other party to the extent that party is required to pay any such royalties, {{isdaprov|Taxes}}, duties or other sums for which the first party is primarily liable. <br>

Latest revision as of 16:04, 31 January 2023

(d)(viii) Value Added Taxes

(1) All amounts referred to in this Part or in a Confirmation for a UK Emissions Allowance Transaction are exclusive of any applicable Value Added Taxes (“VAT”) which are or may become chargeable in respect of the supply or supplies for which such sums form the whole or part of the consideration for VAT purposes, and any such VAT shall be payable in addition to any such other consideration in accordance with the provisions set out below.
(2) Receiving Party shall either (A) subject to receipt of an appropriate VAT Invoice in respect of such supply or supplies stating inter alia the amount of VAT properly chargeable thereon (the “VAT Amount”), pay to Delivering Party a sum equal to the VAT Amount on the Payment Date; or (B) where, under the provisions of the applicable VAT legislation, Receiving Party is required to self-assess and account for any VAT chargeable in respect of such supply under the reverse charge mechanism, account for such VAT.
(3) On each date on which a UK Emissions Allowance Transaction is entered into, Receiving Party represents to Delivering Party that:
(A) for VAT purposes, Receiving Party receives the services supplied pursuant to the UK Emissions Allowance Transaction in connection with an establishment of Receiving Party in that party’s VAT Jurisdiction; and
(B) it is a taxable person for the purposes of section 3 of the Value Added Tax Act 1994 or Article 9 of the European Community Directive 2006/112/EC (as appropriate) and receives such supply for the purposes of a business carried on by it.
(4) Subject to each party’s obligations relating to VAT, each party shall cause all royalties, Taxes, duties, and other sums (including any environmental tax or levy) legally payable by that party arising in connection with a UK Emissions Allowance Transaction to be paid, and shall reimburse the other party to the extent that party is required to pay any such royalties, Taxes, duties or other sums for which the first party is primarily liable.
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