Tax - ISDA Provision: Difference between revisions

Tax - ISDA Provision (view source)

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 {{isdasnap|Tax}}
 ====Commentary====
-If you compare this definition with the equivalent definition of {{gmslaprov|Tax}} in the {{gmsla}} you might find yourself idly wondering about this strange little exception, missing from the GMSLA, for {{isdaprov|Stamp Tax}}. I know I did. Interestingly (or not, depending on your perspective) the drafters of the {{2002ma}} neglected to make use of the opportunity to use the definition of "{{isdaprov|Stamp Tax}}" in place of the less elegant "''stamp, registration, documentation or similar tax''". But this might be the reason for the carve-out: Stamp Tax has its own little representation in Section {{isdaprov|4(e)}}.
+If you compare this definition with the equivalent definition of {{gmslaprov|Tax}} in the {{gmsla}} you might find yourself idly wondering about this strange little exception, missing from the GMSLA, for {{isdaprov|Stamp Tax}}. I know I did. Interestingly (or not, depending on your perspective) the drafters of the {{2002ma}} neglected to make use of the opportunity to use the definition of “{{isdaprov|Stamp Tax}}” in place of the less elegant “''stamp, registration, documentation or similar tax''”. But this might be the reason for the carve-out: {{isdaprov|Stamp Tax}} has its own little representation in Section {{isdaprov|4(e)}}.
-"Tax" features in the ISDA as follows:
+"{{isdaprov|Tax}}" features in the {{isdama}} as follows:
 *Section {{isdaprov|4(a)}}: To furnish specified information, including as regards (at {{isdaprov|4(a)(iii)}}) any forms required to pay {{isdaprov|Tax}} without withholding, leading on to...
 *Section {{isdaprov|2(d)}}: All payments are made without withholding or deduction unless required by law, and (where withholding IS required by law and the {{isdaprov|Tax}} is an {{isdaprov|Indemnifiable Tax}}) a {{tag|gross up}} is required.