Tax Event definition: Copy, customize, and use instantly
Introduction
The term "Tax Event" refers to any occurrence or situation that triggers a tax liability or results in a change in tax obligations for a party under an agreement. This term is often used to address unforeseen tax changes that affect the performance or structure of a contract.
Below are various examples of how "Tax Event" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Tax Event" as a change in tax law
This definition ties "Tax Event" to legislative changes in tax law.
"Tax Event" means any change in the tax laws, rules, or regulations of any jurisdiction that has a material adverse effect on the taxation of any party under this agreement.
Definition of "Tax Event" as a tax audit triggering
This definition connects "Tax Event" to a tax audit.
"Tax Event" refers to the occurrence of a tax audit by any governmental authority that results in a significant increase in the tax liability of a party to this agreement.
Definition of "Tax Event" as a change in tax treatment
This definition links "Tax Event" to changes in the tax treatment of an agreement or its components.
"Tax Event" means any alteration in the classification or treatment of income, expenses, or transactions under applicable tax laws that leads to an increase in tax liability.
Definition of "Tax Event" as a withholding tax change
This definition applies "Tax Event" to changes in withholding tax rates.
"Tax Event" refers to any increase in withholding tax rates or any changes in applicable tax treaties that negatively affect the tax obligations of a party under this agreement.
Definition of "Tax Event" as a shift in tax residence
This definition ties "Tax Event" to a change in the tax residence of a party.
"Tax Event" means a change in the tax residency of any party to this agreement, which results in a material increase in their tax obligations.
Definition of "Tax Event" as an imposition of new taxes
This definition connects "Tax Event" to the introduction of new taxes.
"Tax Event" refers to the imposition of any new taxes or levies by any government that increases the tax burden on any party to this agreement.
Definition of "Tax Event" as a change in tax reporting requirements
This definition links "Tax Event" to changes in reporting requirements for tax purposes.
"Tax Event" means any change in the tax reporting requirements that results in an increase in the compliance cost or tax burden for any party.
Definition of "Tax Event" as a breach of tax compliance
This definition applies "Tax Event" to situations where tax compliance is breached.
"Tax Event" refers to any breach of tax compliance by a party, such as failure to file tax returns or pay taxes, that leads to a significant tax penalty.
Definition of "Tax Event" as the withdrawal of tax benefits
This definition connects "Tax Event" to the removal or reduction of tax benefits.
"Tax Event" means any withdrawal, suspension, or reduction of tax benefits or exemptions that were previously available to a party under applicable tax laws.
Definition of "Tax Event" as an adverse tax ruling
This definition links "Tax Event" to the issuance of an adverse tax ruling.
"Tax Event" refers to the issuance of a tax ruling or decision by any competent tax authority that adversely affects the tax treatment of any party under this agreement.
Definition of "Tax Event" as a change in VAT/GST rules
This definition applies "Tax Event" to changes in value-added tax or goods and services tax rules.
"Tax Event" means any change in the VAT or GST rules or regulations in any jurisdiction that increases the tax liability of a party to this agreement.
Definition of "Tax Event" as a change in transfer pricing regulations
This definition ties "Tax Event" to changes in transfer pricing rules.
"Tax Event" refers to any modification or introduction of new transfer pricing regulations that impact the tax obligations of a party to this agreement.
Definition of "Tax Event" as an economic sanction affecting tax
This definition links "Tax Event" to economic sanctions that impact tax.
"Tax Event" means the imposition of any economic sanctions or embargoes that result in a change in the tax obligations of a party under this agreement.
Definition of "Tax Event" as a failure to qualify for tax exemptions
This definition connects "Tax Event" to the loss of eligibility for tax exemptions.
"Tax Event" refers to the failure of a party to maintain qualification for any tax exemption or preferential tax treatment previously available.
Definition of "Tax Event" as a change in tax treatment of financial instruments
This definition applies "Tax Event" to financial instruments affected by tax changes.
"Tax Event" means any alteration in the tax treatment of financial instruments that adversely affects the taxation of a party under this agreement.
Definition of "Tax Event" as changes in tax rates for dividends
This definition links "Tax Event" to changes in dividend tax rates.
"Tax Event" refers to an increase in the tax rate applied to dividends or distributions, impacting the tax burden on the parties to this agreement.
Definition of "Tax Event" as a change in capital gains tax
This definition ties "Tax Event" to changes in capital gains tax laws.
"Tax Event" means a change in the laws relating to capital gains taxation that results in a material increase in the tax obligations of a party.
Definition of "Tax Event" as an introduction of a digital services tax
This definition connects "Tax Event" to the introduction of a digital services tax.
"Tax Event" refers to the implementation of any digital services tax or similar taxes on digital business models that affect the tax liabilities of any party to this agreement.
Definition of "Tax Event" as a material change in local tax regulations
This definition applies "Tax Event" to significant changes in local tax laws.
"Tax Event" means a material change in the tax regulations of a jurisdiction in which any party to this agreement is located, resulting in increased tax obligations.
Definition of "Tax Event" as a failure to deduct taxes
This definition links "Tax Event" to failures in tax withholding obligations.
"Tax Event" refers to the failure by any party to deduct or withhold the correct amount of taxes, resulting in a significant increase in the tax liability.
Definition of "Tax Event" as a tax imposed on cross-border transactions
This definition ties "Tax Event" to taxes imposed on cross-border activities.
"Tax Event" means the introduction of any tax or levy on cross-border transactions or services that adversely impacts the obligations of the parties to this agreement.
Definition of "Tax Event" as a material increase in estate taxes
This definition connects "Tax Event" to estate or inheritance taxes.
"Tax Event" refers to any change in the estate or inheritance tax laws that increases the tax liability for the transfer of assets under this agreement.
Definition of "Tax Event" as a change in corporate tax structure
This definition links "Tax Event" to modifications in corporate tax laws.
"Tax Event" means a change in the corporate tax structure or rate that significantly impacts the tax obligations of any party to this agreement.
Definition of "Tax Event" as a tax triggered by a sale or transfer of assets
This definition applies "Tax Event" to asset sales.
"Tax Event" refers to the incurrence of a tax liability triggered by the sale or transfer of assets under the terms of this agreement.
Definition of "Tax Event" as a tax event in case of corporate dissolution
This definition connects "Tax Event" to the dissolution of a corporation.
"Tax Event" means the imposition of taxes or penalties upon the dissolution of a corporation or partnership, affecting the tax liabilities of the parties.
Definition of "Tax Event" as an increase in excise taxes
This definition links "Tax Event" to excise taxes.
"Tax Event" refers to an increase in excise taxes or similar levies that affect the tax obligations of a party under this agreement.
Definition of "Tax Event" as a failure to maintain tax status
This definition connects "Tax Event" to the failure to maintain tax status.
"Tax Event" means the failure of a party to maintain its tax-exempt status, resulting in a significant increase in tax liabilities.
Definition of "Tax Event" as an amendment to tax laws affecting M&A
This definition ties "Tax Event" to changes affecting mergers and acquisitions.
"Tax Event" refers to the introduction of new tax laws or regulations that affect the tax treatment of a merger or acquisition under this agreement.
Definition of "Tax Event" as a material increase in tax audit exposure
This definition links "Tax Event" to tax audit risk.
"Tax Event" means an increase in exposure to tax audits or investigations, which results in higher potential tax liabilities for a party under this agreement.
Definition of "Tax Event" as changes in tax treatment of debt financing
This definition applies "Tax Event" to the taxation of debt instruments.
"Tax Event" refers to any change in the tax treatment of debt financing or interest payments that adversely impacts the tax obligations of the party.
Definition of "Tax Event" as a new tax on digital content
This definition ties "Tax Event" to digital content taxation.
"Tax Event" means the imposition of a new tax on the creation, distribution, or sale of digital content that increases the tax liabilities of any party to this agreement.
Definition of "Tax Event" as changes in environmental tax regulations
This definition connects "Tax Event" to environmental taxes.
"Tax Event" refers to the introduction or increase of environmental taxes, such as carbon taxes, that directly affect the tax obligations of any party under this agreement.
Definition of "Tax Event" as the retroactive application of tax law changes
This definition applies "Tax Event" to retroactive tax laws.
"Tax Event" means the retroactive application of any tax law changes that increase the tax liabilities of a party for previous periods.
Definition of "Tax Event" as a new tax on international transactions
This definition links "Tax Event" to international trade taxes.
"Tax Event" refers to the introduction of new taxes on international transactions or trade that affect the tax liabilities of the parties to this agreement.
Definition of "Tax Event" as the removal of a tax treaty benefit
This definition ties "Tax Event" to tax treaty changes.
"Tax Event" means the removal, suspension, or alteration of any benefits under a tax treaty that adversely affects the tax obligations of a party to this agreement.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.