withholding tax


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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 data revealed that the Federal Board of Revenue (FBR) collected Rs24.5 billion from withholding tax collection from banking deposits.
2-98, as amended, and implementing provisions or amendments introduced by the Tax Reform for Acceleration and Inclusion (TRAIN) Law relative to withholding taxes. One significant change introduced by RR No.
Under section J/236 of the Income Tax Ordinance, the FBR receives withholding tax from dealers and commission agents trading at fodder, fruit and vegetable markets across the country.
When I went to pay the vehicle tax for the year 2019 to 2020, I was told that I needed to pay the withholding tax again along with the road tax.
FBR said that filers no longer have to pay withholding tax on bank transactions.
The clarification from the revenue board came after reports did the rounds on social media claiming that a0.6% withholding tax had been imposed on non-filers on withdrawal of cash amounting to over Rs25,000.
In a statement, Dominguez said yesterday that the new regulation also lowers the current withholding tax on the interest income on the refund paid to non-residential Meralco customers.
However, to promote compliance with tax laws, the withholding tax rates for non-filers on such registration is proposed to be enhanced by 50% of existing rates.
Francis Kozah, Legal Adviser to the revenue agency told the News Agency of Nigeria (NAN) in Kaduna that the N2.3 billion was the total withholding tax the banks failed to remit to government between 2011 and 2016.
A report revealed that the federal government has given the immunity from withholding tax to eight green leaf threshing(GLT) units functioning in KP.
'Under which law, sales and withholding taxes are being charged?' Chief Justice Mian Saqib Nisar inquired while hearing the suo moto case against charging high margin of taxes by the cellular companies.