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What type of tax is collected by a mediating agent from the person who is responsible for paying the tax?
The type of tax collected by a mediating agent from the person responsible for paying it is typically referred to as a "withholding tax." This tax is deducted at the source by the mediating agent, such as an employer or financial institution, and is then remitted to the tax authorities on behalf of the taxpayer. Withholding taxes are commonly applied to income, dividends, and interest payments.
Which type of tax is collected mediating agent from the person who is responsible for paying the tax?
The type of tax collected by a mediating agent from the person responsible for paying the tax is known as a "withholding tax." This tax is typically deducted at the source by employers or financial institutions before the income is disbursed to the taxpayer. It ensures that tax obligations are met in advance, streamlining the collection process for governments. Examples include income tax withholdings and payroll taxes.
What is the difference between tax deducted at source and income tax?
"Tax deducted at the source" is a method of collecting income tax and a few other taxes.Some taxes such as income tax and FICA taxes are collected from wages, gambling winnings, pensions, and a few other types of payments before the payments are given to the taxpayer. These payments are then credited to the taxpayer's account as payments of income tax, etc.
Is income tax collected monthly?
In the UK income tax is collected in various ways, if you are employed then the PAYE (pay as you earn) system will collect tax each time you are paid, which is usually weekly or monthly, if you are self employed then income tax will be normally be collected annually when your tax return is processed.
Is sales tax collected by wholesalers?
no
Tax collected at source rate on Firewood?
2.5%
What is Tax deducted at sources?
Maybe to make sure it is paid? It refers to any tax that was collected at source...like payroll withholding or tax deducted from an interest payment.
What is the largest source of revenue for states?
sales tax,property taxes and intergovernmental revenre
Which of the following is an example of a tax collected by the state of Georgia?
Sales tax is an example of a tax collected by the state of Georgia.
What type of tax is collected by a mediating agent from the person who is responsible for paying the tax?
The type of tax collected by a mediating agent from the person responsible for paying it is typically referred to as a "withholding tax." This tax is deducted at the source by the mediating agent, such as an employer or financial institution, and is then remitted to the tax authorities on behalf of the taxpayer. Withholding taxes are commonly applied to income, dividends, and interest payments.
How do i find the pretax amount if i have the tax percentage and the amount of tax collected?
To find the pretax amount when you have the tax percentage and the amount of tax collected, you can use the formula: Pretax Amount = Tax Collected / (Tax Percentage / 100). First, convert the tax percentage into a decimal by dividing it by 100, then divide the tax collected by this decimal. This calculation will give you the pretax amount before tax was added.
Which type of tax is collected mediating agent from the person who is responsible for paying the tax?
The type of tax collected by a mediating agent from the person responsible for paying the tax is known as a "withholding tax." This tax is typically deducted at the source by employers or financial institutions before the income is disbursed to the taxpayer. It ensures that tax obligations are met in advance, streamlining the collection process for governments. Examples include income tax withholdings and payroll taxes.
Explain taxes as a sources of fund?
All of the money taxes that is collected from the taxpayers would be a source for the fund. And the source of the fund would be the taxpayers that are paying the money tax to the fund.
What is the difference between tax deducted at source and income tax?
"Tax deducted at the source" is a method of collecting income tax and a few other taxes.Some taxes such as income tax and FICA taxes are collected from wages, gambling winnings, pensions, and a few other types of payments before the payments are given to the taxpayer. These payments are then credited to the taxpayer's account as payments of income tax, etc.
Is income tax collected monthly?
In the UK income tax is collected in various ways, if you are employed then the PAYE (pay as you earn) system will collect tax each time you are paid, which is usually weekly or monthly, if you are self employed then income tax will be normally be collected annually when your tax return is processed.
Is sales tax collected by wholesalers?
no
Who collects sales tax?
Sales tax is collected by the seller and then passed on to the State.
