Noun
withholding tax (plural withholding taxes)
A withholding; a tax withheld from employees' salary and paid to the government. The withheld amount is considered a credit in final taxation.
An income withholding tax will be imposed on foreign companies for professional and consulting services provided to Nigerians. Source: Internet
Specifically, Nami urged Governor Abiodun to work closely with the FIRS to ensure prompt collection and forwarding of withholding tax and Value Added Tax on contracts, Company Income Tax as well as Stamp Duty, among others. Source: Internet
Any bonus and interest are subject to withholding tax for Maltese residents. Source: Internet
Goal has estimated that more than $31.5 billion of withholding tax is deducted globally each year and that its products and services facilitate the recovery of about $11.5 billion of that. Source: Internet
Reintroducing the 15 per cent withholding tax on bank interest earned will produce another $1 million for government but that is hardly being innovative. Source: Internet
Routing the loan via Ireland thus cancels Zambian withholding tax on these payments. Source: Internet