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withholding tax ECON

Monolingual examples (not verified by PONS Editors)

English
Wages are defined somewhat differently for different withholding tax purposes.
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The implication is that the withholding tax is only applied to those who are not properly declaring their income in their home countries.
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The rate of such withholding tax may be reduced for a shareholder under a tax treaty.
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Failure to timely file withholding tax forms may result in penalties up to $50 per form not filed.
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In most jurisdictions, withholding tax applies to employment income.
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Withholding tax is deducted by the institution managing the account.
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Improvements in the agreement include enhancements to the withholding tax rate on interest income, which was reduced from 15% to 7%.
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A withholding tax on wedding ceremonies being held at commercial venues has also been proposed along with taxes on foreign movies and dramas.
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In some cases the withholding tax is treated as discharging the recipient's tax liability, and no tax return or additional tax is required.
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Most states and localities imposing income tax require estimated payments where tax exceeds certain thresholds, and require withholding tax on payment of wages.
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