What does withholding tax mean?

Definitions for withholding tax
with·hold·ing tax

Here are all the possible meanings and translations of the word withholding tax.

Princeton's WordNet

  1. withholding tax, withholding(noun)

    income tax withheld from employees' wages and paid directly to the government by the employer

Wiktionary

  1. withholding tax(Noun)

    A withholding, a tax withheld from employees' salary and paid to the government. The withheld amount is considered a credit in final taxation.

Freebase

  1. Withholding tax

    A withholding tax, also called a retention tax, is a government requirement for the payer of an item of income to withhold or deduct tax from the payment, and pay that tax to the government. In most jurisdictions, withholding tax applies to employment income. Many jurisdictions also require withholding tax on payments of interest or dividends. In most jurisdictions, there are additional withholding tax obligations if the recipient of the income is resident in a different jurisdiction, and in those circumstances withholding tax sometimes applies to royalties, rent or even the sale of real estate. Governments use withholding tax as a means to combat tax evasion, and sometimes impose additional withholding tax requirements if the recipient has been delinquent in filing tax returns, or in industries where tax evasion is perceived to be common. Typically the withholding tax is treated as a payment on account of the recipient's final tax liability. It may be refunded if it is determined, when a tax return is filed, that the recipient's tax liability to the government which received the withholding tax is less than the tax withheld, or additional tax may be due if it is determined that the recipient's tax liability is more than the withholding tax. In some cases the withholding tax is treated as discharging the recipient's tax liability, and no tax return or additional tax is required.

How to pronounce withholding tax?

  1. Alex
    Alex
    US English
    Daniel
    Daniel
    British
    Karen
    Karen
    Australian
    Veena
    Veena
    Indian

How to say withholding tax in sign language?

  1. withholdingtax

Numerology

  1. Chaldean Numerology

    The numerical value of withholding tax in Chaldean Numerology is: 9

  2. Pythagorean Numerology

    The numerical value of withholding tax in Pythagorean Numerology is: 3

Examples of withholding tax in a Sentence

  1. Josh Waites:

    Shanga's accused of stealing over 650,000 in both sales and withholding tax, (With) penalties and interest, it’s up to over $1 million owed.

Images & Illustrations of withholding tax

  1. withholding tax


Translations for withholding tax

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"withholding tax." Definitions.net. STANDS4 LLC, 2020. Web. 5 Apr. 2020. <https://www.definitions.net/definition/withholding+tax>.

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