withholding tax

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with·hold·ing tax

 (wĭth-hōl′dĭng, wĭth-)
A portion of an employee's wages or salary withheld by the employer as partial payment of the employee's income tax. Also called payroll tax, withholding.

withholding tax

1. (Banking & Finance) tax deducted at source from income, esp from dividends, paid to nonresidents of a country, which may be reclaimed if a double-taxation agreement exists between the country in which the income is paid and the country of residence of the recipient
2. (Industrial Relations & HR Terms) US a portion of an employee's tax liability paid directly to the government by the employer

withhold′ing tax`

that part of an employee's tax liability withheld by the employer from wages or salary and paid directly to the government. Also called with•hold′ing.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.withholding tax - income tax withheld from employees' wages and paid directly to the government by the employer
income tax - a personal tax levied on annual income
pay as you earn, PAYE - the British system of withholding tax

withholding tax

(US) → (vom Arbeitgeber) einbehaltene Steuer
References in periodicals archive ?
During the dialogue, trader leaders agreed upon to withdraw the demand of complete elimination of withholding tax and gave suggestions in this regard.
Local traders and business community had called for a complete shut-down to protest the imposition of withholding tax but most of general stores, food outlets, medical stores and chicken shops continued their business as usual in different markets of the city.
The gross basis withholding tax and net tax on business income: While it taxes citizens and residents on worldwide income, the United States asserts a more limited tax jurisdiction over nonresident alien individuals and foreign corporations (collectively referred to as "foreign persons").
This amendment will apply from the start of the withholding tax regime, 1 July 2008, to provide certainty for industry and investors.
Earlier, when the finance bill was presented in the National Assembly on June 5, the government had proposed a 5 percent withholding tax for both industrial and commercial electricity consumers.
The withholding tax on interest income of those foreigners from short-term bills, asset-based securities, bonds, and structured notes, for instance, will be cut to 15%, while that on salary income and retirement pay will be lowered to 18%.
federal withholding tax at a rate of 30% (subject to reduction by applicable treaty or other exception) on their shares of U.
A phone call to the Franchise Tax Board brought a solution to this dilemma: Two forms were required--Form 592, Nonresident Withholding Annual Return, and Form 592-B, Nonresident Withholding Tax Statement.
05% withholding tax on the value of share sales, whether sold at a profit or loss, or paying a 26% tax on total gains by filing a separate tax return.
He said the withholding tax option should be abolished in January 2003.
05% withholding tax on the value of share sales -- regardless of whether they have gained or lost on the sales -- or paying a 26% tax on their annual total of capital gains by filing a separate tax return.
We have battled and there will be no withholding tax imposed on the City of London.