Precedent tax clauses for a 50/50 joint venture agreement
Produced in partnership with Arun Birla of Paul Hastings , Hannah Gray of Paul Hastings and Abigail Hung of Paul Hastings

The following Tax precedent produced in partnership with Arun Birla of Paul Hastings, Hannah Gray of Paul Hastings and Abigail Hung of Paul Hastings provides comprehensive and up to date legal information covering:

  • Precedent tax clauses for a 50/50 joint venture agreement
  • 1 Definitions and interpretation
  • 2 Tax matters

Precedent tax clauses for a 50/50 joint venture agreement

    1. 1

      Definitions and interpretation

      1. 1.1

        In this Agreement, unless the context otherwise requires the following expressions shall have the following meanings:

        Relevant Proportion

        1. means, for the purposes of clause, the maximum proportion of the Company’s [trading] losses [and other amounts eligible for relief from taxation] which is permitted by law to be surrendered to the relevant Shareholder (or member of its Shareholder Group) or, as appropriate, the maximum proportion of the Company’s trading profits against which the Shareholder (or member of its Shareholder Group) is permitted by law to surrender its [trading] losses [and other amounts eligible for relief from taxation];

        VAT

        1. means United Kingdom value added tax[ and any other tax imposed in substitution for it OR , any other tax imposed in substitution for it and any equivalent or similar tax imposed outside the United Kingdom];

    1. 2

      Tax matters

      1. 2.1

        [The central management and control of the Company shall be exercised in the United Kingdom and the Parties shall use their respective [best OR reasonable] endeavours to ensure that the Company is treated by all relevant authorities as being resident for taxation purposes solely in the United Kingdom [and belongs solely in the UK for VAT purposes].]

      1. 2.2

        In respect of each accounting period of the Company, each of the Shareholders may at any time procure that some or all

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