entitled to credit or repayment

English translation: entitled to get back what was paid in Indirect Tax, or get "tax credits"

22:04 May 8, 2016

English language (monolingual) [PRO]
Law/Patents - Law: Contract(s) / Loan Agreement

English term or phrase: entitled to credit or repayment

Where a Finance Document requires any Party to reimburse the Lender for any costs or expenses, that Party shall also at the same time pay and indemnify the Lender against all Indirect Tax incurred by the Lender in respect of the costs or expenses to the extent that the Lender reasonably determines that it is not entitled to credit or repayment in respect of the Indirect Tax.

I am not sure I understand this part of the sentence. Thanks for all your help and suggestions.

sazo KudoZ activity Questions: 1032 (9 open) (2 without valid answers) (64 closed without grading) Answers: 535 Croatia
Local time: 16:39

Selected answer:entitled to get back what was paid in Indirect Tax, or get "tax credits"

Explanation:
"tax credits" = credits that can be used to pay future or other taxes (same as giving credit to the taxman, or paying taxes in advance)

either get the money back or instead use the amount to reduce future tax payments / or the amount of some other taxes

Selected response from:

Daryo
United Kingdom
Local time: 15:39

Grading comment

Selected automatically based on peer agreement.
4 KudoZ points were awarded for this answer

SUMMARY OF ALL EXPLANATIONS PROVIDED

5 +3

entitled to get back what was paid in Indirect Tax, or get "tax credits"

Daryo

4 +1

cannot receive any indirect financial benefit from paying the Indirect Tax

Martin Riordan

Discussion entries: 1

Answers

3 hrs confidence:

peer agreement (net): +1

cannot receive any indirect financial benefit from paying the Indirect Tax

Explanation:
The lender has to show that it does not have a right to any form of compensation for the Indirect Tax it paid, either through credit against another tax payment or receiving reimbursement of the tax paid. If it can show this, then the Party has to indemnify the Lender for the Indirect Tax it paid.

Martin Riordan
Brazil
Local time: 11:39
Specializes in field
Native speaker of:

English
PRO pts in category: 16

3 hrs confidence:

peer agreement (net): +3

entitled to credit or repayment in respect of the Indirect Tax

entitled to get back what was paid in Indirect Tax, or get "tax credits"

Daryo
United Kingdom
Local time: 15:39
Specializes in field
Native speaker of:

Serbian,

French
PRO pts in category: 16

Grading comment

Selected automatically based on peer agreement.

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entitled to credit or repayment

English translation: entitled to get back what was paid in Indirect Tax, or get "tax credits"

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entitled to credit or repayment

English translation: entitled to get back what was paid in Indirect Tax, or get "tax credits"

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