Qianlizhixing  +  414477 Wed, 05 Sep 07 12:28 PM ...excluding any withholding taxes imposed if such withholding tax is allowed as a credit against our income taxes where such withholding is required by law. "as a credit against" ? What does this phrase mean?  Can somebody give me a hand? Much thanks Qianlizhixing Joined on Tue, Mar 20 2007 Junior Member 67 He descended from His throne and came to my little cottage.

	nona the brit  +  414619 Wed, 05 Sep 07 04:50 PM I can't make head or tail of that sentence (poor you having to deal with all these contracts) but 'credit against' means, for example A owes B £100. Unfortunatly B already owes A £200. Therefore A credits what he owes against the amount B owes him, so will now only expect £100 from B. nona the brit Joined on Wed, Sep 22 2004 England Veteran Member 11,713 The name says it all.

	Kathrin  +  414947 Thu, 06 Sep 07 10:32 AM Hi, take a look at that link because the same phase has been used in the same way: http://findarticles.com/p/articles/mi_qa3898/is_199810/ai_n8822112 If you want to take a credit, you have to offer some security known as loan security or collateral security so the bank could be sure the money would not have gone in the worst case scenario. Sometimes credit against is used in order to name the kind of security. You can see a very good sample for this in the mentioned link above. Sometimes it is a bit complicated because it means 'to charge up against sth'. You know one person has a claim and the other person has a claim and so they can charge the one claim up against the counter-claim. At least in Germany you can do that but it is a common principle. In your case I would say that the withholding tax can be used as a credit not from the bank but a form of credit and also charged up against the income taxes, so my understanding of the phrase but maybe Feebs11 have a better idea. Best wishes, Kathrin Kathrin Joined on Fri, May 11 2007 Full Member 152 Is it me or is it the universe? It could be the universe but I am not sure thus I have been still wondering and drinking tea. However, the tea is getting cold. Articles, Sample

	nona the brit  +  415162 Thu, 06 Sep 07 07:56 PM This isn't credit as in loans. It just means to balance up one payment against another. nona the brit