National Grid 2008 Annual Report Download - page 276

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 47742
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-2.B.6.1, Doc: 6, Page: 70
Description: EXH 2(B).6.1
0/1674.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/674/1*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 47742
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-2.B.6.1, Doc: 6, Page: 70 Description: EXH 2(B).6.1
0/1674.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/674/1*
per cent. or more of whose
g
ross income was effectively connected with the conduct of a United States trade or business for a
specified three-year period, or (iv) a forei
g
n partnership, if at any time durin
g
its tax year, one or more of its partners are U.S.
persons who, in the aggregate, hold more than 50 per cent. of the partnership’s income or capital interest or if, at any time
during its tax year, it is engaged in the conduct of a trade or business in the United States.
Any amounts withheld under the backup withholding rules may be allowed as a credit against the holder’s U.S. federal income
tax liability, and may entitle the holder to a refund, provided that the required information is furnished to the U.S. Internal
Revenue Service.
Holders should consult their tax advisors re
g
ardin
g
the application of information reportin
g
and backup withholdin
g
to their
particular situations, the availability of an exemption therefrom, and the procedure for obtaining an exemption, if available.
A holder of an Instrument with a maturity at issue of 183 days or less and a principal amount of at least U.S.$500,000 (or its
forei
g
n currency equivalent based on the spot rate on the date of issue), by acceptin
g
the Instrument, will be deemed to
represent and warrant that it is not a United States person (other than an exempt recipient described in section 6049(b)(4) of
the Code and the regulations thereunder), and is not acting for or on behalf of any such person.
THE SUMMARY OF U.S. FEDERAL INCOME AND ESTATE TAX SET FORTH ABOVE IS INCLUDED FOR GENERAL
INFORMATION ONLY. ALL PROSPECTIVE PURCHASERS ARE URGED TO CONSULT THEIR OWN TAX ADVISORS AS
TO THE PARTICULAR TAX CONSEQUENCES TO THEM OF OWNING INSTRUMENTS OR COUPONS, INCLUDING THE
APPLICABILITY AND EFFECT OF STATE, LOCAL, FOREIGN AND OTHER TAX LAWS AND POSSIBLE CHANGES IN TAX
LAW.
EU Savings Directive
Under EU Council Directive 2003/48/EC on the taxation of savin
g
s income, each Member State is required to provide to the tax
authorities of another Member State details of payments of interest or other similar income paid by a person within its
jurisdiction to, or collected by such a person for, an individual resident or to certain limited types of entity established in that
other Member State; however, for a transitional period, Austria, Bel
g
ium and Luxembour
g
may instead apply a withholdin
g
system in relation to such payments, deductin
g
tax at rates risin
g
over time to 35 per cent. The transitional period is to
terminate at the end of the first full fiscal year following agreement by certain non-EU countries to the exchan
g
e of information
relating to such payments.
Also, a number of non-EU countries, and certain dependent or associated territories of certain Member States, have a
g
reed to
adopt similar measures (either provision of information or transitional withholdin
g
) in relation to payments made by a person
within its jurisdiction to, or collected by such a person for, an individual resident or certain limited types of entity established in a
Member State. In addition, the Member States have entered into reciprocal provision of information or transitional withholdin
g
arran
g
ements with certain of those dependent or associated territories in relation to payments made by a person in a Member
State to, or collected by such a person for, an individual resident or certain limited types of entity established in one of those
territories.
70