Deferred Tax Clause Samples
The Deferred Tax clause defines how taxes that are recognized in the accounts but not yet paid or received are to be treated between the parties. It typically outlines the method for calculating deferred tax assets and liabilities, specifies which party is responsible for these amounts, and may address how changes in tax law or accounting standards affect deferred tax balances. This clause ensures that both parties have a clear understanding of their obligations regarding deferred taxes, thereby preventing disputes and ensuring accurate financial reporting during transactions such as mergers or acquisitions.
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Deferred Tax. The Closing Statement (including the Draft Closing Statement) shall not take into account or provide for deferred Tax.
Deferred Tax. Deferred tax was recorded on the difference of the fair values and the tax values of assets acquired and liabilities assumed. Related income tax effect was recognised on amortisation expense and other effects resulting from purchase price allocation an on other adjustments for financing the purchase price. Of the adjustments listed above, the amortisation of the customer base and the licenses, the depreciation of fixed assets and the interest expense resulting from the financing of the purchase price and related tax effects will have a continuing impact on the results of Telekom Austria. ▇▇▇▇▇▇▇▇ recognised will only have an impact if an impairment charge has to be recorded in future periods. Other insignificant items not listed above will only have a minor (if any) impact on the financial results. TELEKOM AUSTRIA GROUP THIS GUARANTEE is given on 20th December, 2005 by Telekom Austria Aktiengesellschaft (the ‘‘Guarantor’’).
Deferred Tax. The Group's significant components of deferred tax assets were as follows: Net operating losses 88,798,333 121,369,268 Accrued liabilities 34,389,202 47,898,888 Fixed assets depreciation 428,268 1,127,603 Allowance for doubtful accounts 1,875,133 11,038,772 Total 125,490,936 181,434,531 Less: Valuation allowance (125,490,936 ) (181,434,531 ) Net deferred tax assets — — As of December 31, 2009, 2010 and 2011, valuation allowances were provided for tax losses carry-forward and other deferred tax assets because it was more likely than not that such deferred tax will not be realized based on the Group's estimate of its future taxable income. Accumulated tax losses of approximately RMB 389,157,840, RMB 506,083,746 and RMB 672,646,922 carried forward as of
Deferred Tax. Information on deferred tax assets and liabilities will be found in Note 2.10. Income tax expense.
Deferred Tax. The Company has made full provision for deferred Taxes in the accounts in accordance with the applicable Law and applicable accounting standards. No disposal has taken place or other event occurred which will have the effect of crystallizing a liability to Taxation which should have been included in the provision for deferred Taxation contained in the financial statements of the Company if such disposal or other event had been planned or predicted at Closing.
Deferred Tax. Deferred income tax is provided using the liability method on temporary differences at the balance sheet date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred tax liabilities are recognised for all temporary differences, except: — Where the deferred tax liability arises from the initial recognition of goodwill or of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; and — In respect of taxable temporary differences associated with an investment in a subsidiary, where the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future. Deferred tax assets are recognised for all deductible temporary differences, carry forward of unused tax credits and unused tax losses, to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilised, except: — Where the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; and — In respect of deductible temporary differences associated with investment in a subsidiary, deferred income tax assets are recognised only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at each balance sheet date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilised. Unrecognised deferred tax assets are reassessed at each balance sheet date and are recognised to the extent that it has become probable that future taxable profit will allow the deferred tax asset to be utilised. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the year when the asset is realised or the liability is settled, based on tax rates and tax laws that have been enacte...
Deferred Tax. The Perimeter Closing Statements shall include no provision, reserve, accrual, write off, asset, debtor, receivable or other entries in relation to deferred tax, whether as an asset or a liability.
Deferred Tax. For any claim in relation to deferred tax liability;
Deferred Tax. No deferred Tax assets or liabilities shall be recognised in the Final Completion Statement. SCHEDULE 5 PRE-COMPLETION MATTERS
Deferred Tax. FREE LIKE-KIND EXCHANGE. Seller and Buyer hereby agree that Seller, in lieu of the sale of the Assets to Buyer for the cash consideration provided herein, shall assign all of its rights under this Agreement to Texas Escrow, as a qualified intermediary, in order to accomplish the transaction in a manner that will comply, either in whole or in part, with the requirements of a like-kind exchange pursuant to Section 1031 of the Internal Revenue Code of 1986, as amended. Buyer agrees to tender the full Purchase Price less adjustments permitted herein to Texas Escrow at or before Closing. Except as otherwise provided herein, upon payment to Texas Escrow, Buyer shall not be obligated to pay any additional costs or incur any additional obligations or liabilities in the acquisition of the Property. Seller hereby acknowledges that any assignment of its rights pursuant to this Section 2.2 shall in no way relieve Seller from any of its obligations under this Agreement.