withholding tax

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Related to Withholding taxes: Federal Income Tax Withheld

with·hold·ing tax

 (wĭth-hōl′dĭng, wĭth-)
n.
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

n
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`


n.
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.
[1940–45]
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
Translations
AbgeltungsteuerQuellensteuer

withholding tax

(US) → (vom Arbeitgeber) einbehaltene Steuer
References in periodicals archive ?
The Supreme Court affirmed its earlier order for the government to return the withholding taxes it charged on the PEACe bonds and pay additional interest for non-compliance with its previous ruling.
The Federal Board of Revenue (FBR) has proposed to withdraw a number of income tax exemptions in budget (2016-17) including reduced rates of withholding taxes on supplies, services and contracts; dividend from agriculture income; reduced rates of withholding tax on supply of cotton lint, raw wool/rice, exemption on flying allowance; withholding tax on insurance premiums and claims; deletion of option to textile services providers to be assessed under minimum tax and withdraw exemption to the perquisites of judges of courts.
Everybody paid taxes through direct or indirect as follow Income Tax, GST, Capital Value Tax, Value Added Tax, Service Tax, Fuel Adjustment Charges, Petrol Levy, Excise Duty, Customs Duty, Octroi Tax, TDS Tax, Employment Status Indicator Tax, Property Tax, Stamp Duty, Aabiana, Ushr, Zakat, PTV Licence fee, CGT, Water Tax, Flood Tax, Professional Tax, Road Tax, Securities Transaction Tax (STT), Wealth Tax, Transient Occupancy Tax (TOT), Congestion Levy Compulsory Deduction, Super Tax and Withholding Taxes.
The payment of withholding taxes on all the allowances received by the justices, judges and employees of the country's courts will be investigated by the Bureau of Internal Revenue (BIR).
The Income Tax law is not easy to understand nor is it too difficult to grasp and, thus, in the new law we have explained withholding taxes in more detail for better understanding.
Penalties and interest accrue on withholding taxes not paid by the due date of Form 1042, even if the IRS grants an extension of time to file.
Hectic efforts are being made to realize the defaulted amount of Withholding Taxes during current financial year.
In the Third Protocol to the Convention between Canada and the United States with Respect to Taxes on Income and Capital signed in 1995, the United States and Canada announced a general reduction in the withholding taxes on dividends, interest, and certain royalties.
Despite the publicity about the "nanny tax" (which includes Social Security, Medicare (collectively, FICA) and federal unemployment tax (FUTA)), many household employers still pay their babysitters and housekeepers in cash, without withholding taxes or filing the correct forms.
Trustee," a federal employee whose job it is to monitor a Chapter 11 proceeding for compliance with the bankruptcy code, to ascertain that all withholding taxes are paid promptly, and to review monthly reports that must be delivered to the U.
This number must be used on all tax forms and will assure the correct application of withholding taxes.
The Diet on Wednesday enacted a set of tax reform bills for fiscal 2001 featuring extended tax breaks for home loans and withholding taxes on stock-trading capital gains with their passage through the House of Councillors.