withholding tax
noun
: a deduction (as from wages, fees, or dividends) levied at a source of income as advance payment on income tax
Examples of withholding tax in a Sentence
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Under the Foreign Account Tax Compliance Act (FATCA), Washington requires foreign financial institutions to disclose their American clients’ financial information to the U.S. Treasury and imposes a 30 percent withholding tax on certain payments to foreign financial institutions that don’t comply.
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Nicholas Shaxson, Foreign Affairs, 13 Feb. 2018
Palestinian leaders say its ability to exercise effective governance has been effectively blocked by Israeli restrictions, which have included withholding tax revenues due under the Oslo accords.
—Ali Sawafta, The Christian Science Monitor, 26 Feb. 2024
The legislation lifts the current $800 million limit on the total amount of capture income and withholding tax revenues to $1.6 billion.
—Detroit Free Press, 18 July 2023
The release of $600,000 in withholding tax tied to unrepatriated earnings of its Russian subsidiary increased its tax rate, Kevin Daniels, the company’s chief accounting officer, said in a June 2 letter.
—Mark Maurer, WSJ, 26 July 2022
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Nicholas Shaxson, Foreign Affairs, 13 Feb. 2018
Palestinian leaders say its ability to exercise effective governance has been effectively blocked by Israeli restrictions, which have included withholding tax revenues due under the Oslo accords.
—Ali Sawafta, The Christian Science Monitor, 26 Feb. 2024
The legislation lifts the current $800 million limit on the total amount of capture income and withholding tax revenues to $1.6 billion.
—Detroit Free Press, 18 July 2023
The release of $600,000 in withholding tax tied to unrepatriated earnings of its Russian subsidiary increased its tax rate, Kevin Daniels, the company’s chief accounting officer, said in a June 2 letter.
—Mark Maurer, WSJ, 26 July 2022
See all Example Sentences for withholding tax
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“Withholding tax.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/withholding%20tax. Accessed 22 Nov. 2024.
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