Template:Nutshell GMSLA 12.2: Difference between revisions

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(Created page with "{{gmslaprov|12.2}} if the paying {{gmslaprov|Party}} is required to deduct {{gmslaprov|Tax}}, it must: <br> :(a) promptly notify the '''{{gmslaprov|Recipient}}'''; <br> :(b) p...")
 
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:(b) pay the full {{gmslaprov|Tax}} amount required to the relevant authority; <br>
:(b) pay the full {{gmslaprov|Tax}} amount required to the relevant authority; <br>
:(c) provide the {{gmslaprov|Recipient}} with evidence of such payment to such authorities; and <br>
:(c) provide the {{gmslaprov|Recipient}} with evidence of such payment to such authorities; and <br>
:(d) other than for {{gmslaprov|manufactured payments in respect of Non-Cash Collateral }}, [[gross up]] the payment so the {{gmslaprov|Recipient}} receives what it would have received had the deduction not been required; provided {{gmslaprov|Payer}} need not gross up any amount if it would not have had to deduct had {{gmslaprov|Recipient}} provided information required  under paragraph {{gmslaprov|12.3}}. <br>
:(d) other than for {{gmslaprov|manufactured payments in respect of Non-Cash Collateral}}, [[gross up]] the payment so the {{gmslaprov|Recipient}} receives what it would have received had the deduction not been required; provided {{gmslaprov|Payer}} need not gross up any amount if it would not have had to deduct had {{gmslaprov|Recipient}} provided information required  under paragraph {{gmslaprov|12.3}}. <br>

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