Latin to deduct or withhold taxes

1. What does withholding tax mean?
2. What is taxes in Latin?
3. What does withholding tax at source mean?

What does withholding tax mean?

Withholding tax is the amount of tax retained by one person when making payments to another person in respect of goods supplied or services rendered by the payee.

What is taxes in Latin?

1. MEANING The word 'tax' is derived from a Latin word “Taxare” it means to estimate or value. The term ' tax' means statutory payment to be made by the public and imposed by the government.

What does withholding tax at source mean?

This means taxing individuals at the source of income rather than trying to collect income tax after wages are earned. Here's how it works. Whenever an employee gets paid, their employer withholds a certain percentage of their paycheck as income tax.