Tax equalisation Sample Clauses
A tax equalisation clause is designed to ensure that an employee working internationally does not pay more or less tax than they would have if they had remained in their home country. Under this arrangement, the employer typically calculates the hypothetical tax the employee would owe at home and withholds that amount from their pay, while the employer covers any additional foreign tax liabilities. This clause helps to eliminate tax-related financial advantages or disadvantages for employees on international assignments, thereby encouraging mobility and fairness.
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Tax equalisation. Where a payment is to be made to Sub-hubco pursuant to Clause 46.1, Clause 46.3, Clause 46.4 or Clause 46.5 (a "Compensation Payment") and Sub-hubco has a Relevant Tax Liability in respect of such payment, then the amount of the Compensation Payment to be made by the Authority to Sub-hubco shall be increased so as to ensure that Sub- hubco is in the same position (after account is taken of the Relevant Tax Liability) as it would have been in had it not been for such Relevant Tax Liability.
Tax equalisation. In the event that the Executive will be subject to taxes in excess of those that would otherwise have been due under US tax code as a US citizen working in the US, ESG Re will compensate the Executive for the difference.
Tax equalisation. Where a payment is to be made to Project Co pursuant to Clauses 46.1 (Force Majeure), 46.3 (Trust Events of Default), 46.4 (Voluntary Termination) or 46.5 (Corrupt Gifts) (a “Compensation Payment”) and Project Co has a Relevant Tax Liability in respect of such payment, then the amount of the Compensation Payment to be made by the Trust to Project Co shall be increased so as to ensure that Project Co is in the same position (after account is taken of the Relevant Tax Liability) as it would have been in had it not been for such Relevant Tax Liability.
Tax equalisation. Where a payment is to be made to Project Co pursuant to Clause 46.1, Clause 46.3, Clause 46.4 or Clause 46.5 [or Clause 46.6] (a "Compensation Payment") and Project Co has a Relevant Tax Liability in respect of such payment, then the amount of the Compensation Payment to be made by the Authority to Project Co shall be increased so as to ensure that Project Co is in the same position (after account is taken of the Relevant Tax Liability) as it would have been in had it not been for such Relevant Tax Liability. For the purposes of this Clause 46 (Compensation on Termination):
Tax equalisation. 8.1 The Employee will be entitled to advice on tax management through KPMG (or our appropriate advisors). The Employee is to be equalised for taxes and social security paid in multiple jurisdictions due to the nature of her role such that, that the Employee’s total tax and social security liability on all Remuneration covered under this Agreement, will equate to no more than the Employee’s total tax and social security liability calculated in accordance with the US tax and social security codes including, if applicable, any State taxes.
8.2 The Employee is fully responsible for all penalties and interest charges assessed by any tax authority due to the Employee’s failure to (1) file personal tax returns in any jurisdiction and (2) to cooperate with the Company with respect to the tax equalization process.
Tax equalisation. 21.1 During the course of the Employment, the Executive will be liable for UK income tax and employee’s National Health Insurance contributions (“UK Tax”). In addition, the Executive may be liable to pay US federal and state income taxes in respect of earnings from work carried out in the US. The Company intends to minimize the effect of the different rate of US and UK tax rates and leave the Executive in a net after-tax position substantially equivalent to what the Executive would experience if Executive were subject only to UK Tax during this period. The Company shall tax equalise the Executive so that the income and employment tax burden to the Executive on his remuneration and other amounts payable pursuant to this Agreement (including any remuneration with respect to the Share Schemes and including the tax equalisation payments made pursuant to this Clause 21.1), exclusive of any taxes under Section 409A, Section 457A or Section 4999 of the United States Internal Revenue Code of 1986, as amended (the “Code”) or any other provisions of the Code relating to excise taxes, penalties or interest, is neither substantially greater nor less than the UK Tax that the Executive would have paid had Executive performed all of Executive’s duties to the Company in the UK, subject to the terms of any tax equalisation policy adopted by the Company, as it may be amended by the Company from time to time in the Company’s sole discretion (“Tax Equalisation”). Such payments, if any are payable pursuant to this Clause 21.1, shall be made within 60 days after the actual US tax amounts due are paid by the Executive for any applicable tax periods. To the extent that payments pursuant to this Clause 21.1 exceed the amount that was required to achieve Tax Equalisation, the Executive will repay to the Company an amount equal to the overpayment on demand by the Company and agrees that the Company may deduct amounts equal to any overpayment from the Executive’s salary or other payments due from the Company to the Executive. The Executive shall cooperate with the Company in determining any Tax Equalisation and in seeking any tax refunds owed on taxes paid by the Company pursuant to this Clause 21.1 in accordance with applicable tax rules and regulations. This Clause 21.1 shall continue to apply after the termination of the Executive’s employment with the Company without limit in point of time.
Tax equalisation. Where a payment is to be made to DBFM Co pursuant to Clause 46.1, Clause 46.3, Clause 46.4 or Clause 46.5 (a "Compensation Payment") and DBFM Co has a Relevant Tax Liability in respect of such payment, then the amount of the Compensation Payment to be made by the Authority to DBFM Co shall be increased so as to ensure that DBFM Co is in the same position (after account is taken of the Relevant Tax Liability) as it would have been in had it not been for such Relevant Tax Liability.
Tax equalisation. Cheniere Supply & Marketing, Inc. will also pay to ▇▇ ▇▇▇▇▇▇▇▇▇ an annual sum equivalent in pounds sterling to 200,000 euros by way of "tax equalisation", from which shall be deducted the equivalent in euros of the Housing Allowance which is paid pursuant to clause 5.11.
Tax equalisation. 14.1 The Company will pay for and assist you with your 2016 Income tax returns that need to be prepared for the US and Ireland for the 2016 tax year, with full tax equalisation for you assured by the Company for 2016 only (i.e. you will be made whole by the Company In the event of any double taxation). No further tax assistance or tax equalization service will be provided.
Tax equalisation. In the event that a US tax liability arises in respect of actual or deemed contributions to the Rio Tinto Pension Fund, Rio Tinto London Limited will tax equalise you to the UK in respect of such actual or deemed contributions.