Filed Under: Taxation
1 definition found for this term.
Definitions are presented in the order source books were published (most recent first).
Income Tax Law, 2/e$75.00 – $120.00
A withholding tax is a tax levied by the country in which income arises (the source country) at a flat rate on the gross amount of the income paid by a resident of the country to a non-resident. The tax is usually collected by the resident taxpayer and remitted to the government on behalf of the non-resident person.