The financial definition for Withholding tax:
A tax levied by a country of source on income paid, usually on dividends remitted to the home country of the firm operating in a foreign country.
High withholding tax interest incomeHigh withholding tax interest income
Interest income that is subject to a foreign gross withholding
tax of 5% or more. Specified in US tax code.
When a taxpayer has withheld too little tax from salary and will therefore owe tax when filing a return.
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