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Indemnifiable Tax - ISDA Provision: Difference between revisions
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{{isdaanat|Indemnifiable Tax}} | {{isdaanat|Indemnifiable Tax}} | ||
{{Withholding under ISDA}} | {{Withholding under ISDA}} | ||
==={{isdaprov|Stamp Tax}}es are not {{isdaprov|Indemnifiable Taxes}}=== | |||
{{isdaprov|Stamp Tax}}es are not {{isdaprov|Indemnifiable Taxes}}. They are covered by Section {{isdaprov|4(e)}} and not the general gross-up in Section {{isdaprov|2(d)}}. They are not covered by {{isdaprov|Payee Tax Representations}}. | |||
===Negatives, negatives, everywhere === | ===Negatives, negatives, everywhere === | ||
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Not only a [[triple negative]], but since ISDA’s definition of {{isdaprov|Tax}} already contains a negative (being any tax that isn’t a {{isdaprov|Stamp Tax}}) and “{{isdaprov|Indemnifiable Tax}}” is itself often used in the negative (e.g. “a tax which is [[not]] an {{isdaprov|Indemnifiable Tax}}”) — or even ''[[double negative]]'' (e.g. “''other than'' a tax which is not an {{isdaprov|Indemnifiable Tax}}”) in the body of the {{isdama}}. That makes it a '''[[sextuple negative]]'''. Beat ''that'' [[ISLA]]. | Not only a [[triple negative]], but since ISDA’s definition of {{isdaprov|Tax}} already contains a negative (being any tax that isn’t a {{isdaprov|Stamp Tax}}) and “{{isdaprov|Indemnifiable Tax}}” is itself often used in the negative (e.g. “a tax which is [[not]] an {{isdaprov|Indemnifiable Tax}}”) — or even ''[[double negative]]'' (e.g. “''other than'' a tax which is not an {{isdaprov|Indemnifiable Tax}}”) in the body of the {{isdama}}. That makes it a '''[[sextuple negative]]'''. Beat ''that'' [[ISLA]]. | ||
{{seealso}} | {{seealso}} | ||
*Section {{isdaprov|2(d)}} ({{isdaprov|Deduction or Withholding for Tax}}). | *Section {{isdaprov|2(d)}} ({{isdaprov|Deduction or Withholding for Tax}}). | ||
{{ref}} | {{ref}} | ||