Withholding Tax Meaning

Withholding tax is the term used in reference to taxes which the government or the company deducts directly from the salary of the employee so that there is no question of tax evasion as the money reaches directly to government from employer rather than employee giving it to the government. It is also used by some companies when paying dividends to the shareholders or interest payments, however it mainly used by the employers in relation to salary payments.

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