The meaning of WITHHOLDING TAX is a deduction (as from wages, fees, or dividends) levied at a source of income as advance payment on income tax.
• Income on any overseas assets backing this policy may be paid subject to a local withholding tax.• As a result, they suffer the full rate of withholding tax on dividends from foreign subsidiaries.• One component of the tax reform had already been abandoned, namely the withholding ...
Withholding tax definition: that part of an employee's tax liability withheld by the employer from wages or salary and paid directly to the government.. See examples of WITHHOLDING TAX used in a sentence.
Of that $1,500, parts of it goes to state income tax, federal income tax, unemployment, and Medicare liabilities. Individuals (except 1099 employees) can easily look at their pay stubs to see the exact amount their employer is withholding. What Income Is Subject To Tax Withholding? Accord...
2 : to refuse to grant, give, or allow withhold permission 3 : to deduct (withholding tax) from income withholder noun More from Merriam-Webster on withhold Nglish: Translation of withhold for Spanish Speakers Britannica English: Translation of withhold for Arabic SpeakersLast...
payroll tax(noun) poll tax(noun) sales tax(noun) value–added tax(noun) withholding tax(noun) 1tax/ˈtæks/noun pluraltaxes Britannica Dictionary definition of TAX :an amount of money that a government requires people to pay according to their income, the value of their property, etc....
Additional meaning of Tax Refund: A tax refund or tax rebate is a refund on taxes when the tax liability is less than the taxes paid. Taxpayers can often get a tax refund on their income tax if the tax they owe is less than the sum of the total amount of the withholding taxes and ...
Comments on the European Court of Justice's decision in the Athenian Breweries case wherein the Court found that a Greek provision constitutes a withholding tax within the meaning of the European Commission Parent-Subsidiary Directive. Background on the Greek income tax law; Facts of the case; ...
from The American Heritage® Dictionary of the English Language, 5th Edition. transitive verbTo refrain from giving or granting:synonym:keep. transitive verbTo keep in check; restrain. transitive verbTo deduct (withholding tax) from an employee's salary. ...
Types of Business Taxes There are five major kinds of business taxes. They are: Gross-receipts tax. Corporate franchise tax. Employment withholding tax. Excise tax. Value-added tax (VAT). In some industries, such as mining and insurance, companies will need to pay additional taxes. While busi...