This government has a policy of penalizing the undocumented businesses or undocumented transactions through advance taxes, higher sales tax or higher withholding taxes
Clearly, the potential penalties for failure to timely file or pay withholding taxes
provide an enormous incentive to taxpayers to ensure they have robust internal controls to identify and monitor all instances of potential noncompliance.
Howe Institute, (11) have shown a strong link between the elimination of withholding taxes
on dividends and interest and increased foreign direct investment.
Another consideration is that in the event of filing Chapter 11, there may be unpaid withholding taxes
to state, federal, or local authorities.
on stock-trading capital gains, which were originally planned to be abolished at the end of March, will be extended for another two years.
The package comprises the European Commission's May 1998 proposal to ensure a minimum degree of effective taxation of cross-border interest on savings paid from one Member State to individuals resident in another Member State (see European Report No 2317); a Code of Conduct for business taxation (whereby Member States will refrain from introducing any new harmful tax measures and will amend any laws or practices that are deemed to be harmful in respect of the principles of the Code - see European Report No 2273) and the March 1998 proposal for a Directive to eliminate withholding taxes
on payments of interest and royalties made between directly associated companies of different Member States (see European Report No 2297).
The Heritage Foundation, a Washington-based public policy research institute, has come up with a new idea to jolt people into action and force changes in the way the federal government treats its citizens - abolish withholding taxes
Nobody believes that withholding taxes
will be repealed.
While the Electronic Federal Tax Payment System (EFTPS), a free service from Treasury, has been available for all federal tax payments for more than 10 years, the pilot with Illinois marks the first time state withholding taxes
also may be paid via EFTPS (www.
The Court of Tax Appeals (CTA) has ordered the Commission on Elections (Comelec) to pay the Bureau of Internal Revenue (BIR) P49-million deficiency expanded withholding taxes
for taxable year 2008.
Expeditiously negotiate and implement a new provision in the Income Tax Convention with the United States eliminating withholding taxes
on all dividends and interest for payments to both related and unrelated parties.
901(1)(1)'s general rule that denies a foreign tax credit (FTC) for withholding taxes
imposed on an item of income (other than dividends) or gain, when the underlying property generating the income or gain is held for a relatively short period.
In Compaq, the Tax Court considered the economic benefit to be the dividend, net of withholding taxes
Any Canadian withholding taxes
that were paid cannot be used as a credit or a deduction for U.
We encourage the Department to develop, in consultation with stakeholders, and communicate a targeted strategy to phase out withholding taxes
on interest and dividends (for both related and non-related party payments).