Phrases with «withholding tax»

"Withholding tax" refers to a certain amount of money that is automatically deducted or withheld from an individual's income, usually for taxes. This deduction is done by an employer or other entity responsible for paying the income, before the income is actually given to the person. The withheld amount is then submitted to the government as a prepayment towards the person's tax liability for the year. Full definition

Related phrases

Sentences with «withholding tax»

  • This structure can result in additional foreign withholding taxes on dividends. (moneysense.ca)
  • If you held this fund in an RRSP account, the international foreign withholding taxes of about 4 % would be lost. (pwlcapital.com)
  • Officers, directors and principal employees of closely - held companies may be personally liable for payment of withheld taxes if the company runs out of funds to pay these obligations. (petbusiness.com)
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