WITHHOLDING TAX Definition & Meaning

withholding tax

noun

that part of an employee's tax liability withheld by the employer from wages or salary and paid directly to the government.

withholding tax

noun

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
a portion of an employee's tax liability paid directly to the government by the employer

withholding tax

The tax withheld (or deducted) directly from one's paycheck.

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Other 51�Թ� Forms

�ܲ�w��ٳ�·��Ǳ��i�Բ� adjective

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51�Թ� History and Origins

Origin of withholding tax¹

First recorded in 1940–45

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Example Sentences

Examples have not been reviewed.

The schemes typically involve the rapid sale of large volumes of shares from one investor to another immediately before the payment of a dividend, enabling duplicated claims of the withholding tax.

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The government has agreed a bill, pending approval, reducing the withholding tax buyers will pay to 15% to make the bond more attractive relative to savings accounts, from 30% on other Belgian retail bonds.

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They also approved a new withholding tax for digital content creators.

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Its impact is diminished because awards are subject to a federal withholding tax, meaning that 37 percent of the dollars appropriated to this program go right back to the U.S.

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In several states, including North Carolina, Ohio, and New York, public university systems refer patients to other state agencies for legal action or withholding tax refunds.

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