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Indemnifiable Tax - ISDA Provision: Difference between revisions
Indemnifiable Tax - ISDA Provision (view source)
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A need to know version is this: | A need to know version is this: | ||
{{nuts|ISDA|Indemnifiable Tax}} | |||
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Under Section {{isdaprov|2(d)}}, if a party is subject to withholding on any payment, it does not have to gross up the withholding tax. this is unless it is an {{isdaprov|Indemnifiable Tax}}: that is, the tax is imposed by dint of the party's own connection to the jurisdiction levying the tax, unless the tax could be avoided by the reciving party taking any action or making any representaiton (or such a representation turning out not to have been true). | Under Section {{isdaprov|2(d)}}, if a party is subject to withholding on any payment, it does not have to gross up the withholding tax. this is unless it is an {{isdaprov|Indemnifiable Tax}}: that is, the tax is imposed by dint of the party's own connection to the jurisdiction levying the tax, unless the tax could be avoided by the reciving party taking any action or making any representaiton (or such a representation turning out not to have been true). | ||