What is Withholding? How is it calculated? What Is The Meaning Of The Word Malta Phone Number List Withholding? Withholding means cuts on money. From a tax point of view, the word withholding is a term used for deduction and division operations. In this type of tax, the state collects the value-added tax (VAT) not only from the seller but also from the buyer. Thus, there is a division between the parties. What is the Withholding TermWhat are the types of Tevfikat? The Malta Phone Number List types of traffic are divided into two. These are in the form of VAT withholding and income tax withholding.
When we say Income Tax withholding, it is a type of tax determined according to Article 94 of the Income Tax Law. VAT taxation is another type of taxation. In addition to the Malta Phone Number List amount paid to the seller, VAT withholding is realized by reducing the VAT at a certain rate and paying it to the tax office. A direct payment is made to the tax office by deducting all or part of the VAT value paid to the seller from the main amount. What are the Types of Withholding? What is Income Tax Withholding? Deductions from income types included in Article 94 of the Income Tax Law are called income tax withholding.
It is the type of deduction made at the rates determined by the Council of Ministers on income types by Article 94 of the Income Tax Law. You can find income tax withholding rates on the Income Tax Withholding Rates page of the Malta Phone Number List Revenue Administration (GIB). What is VAT Approval?VAT withholding is realized in the form of reducing VAT at a certain rate in addition to the amount paid to the seller and paying it to the tax office. A Malta Phone Number List direct payment is made to the tax office by deducting all or part of the VAT value paid to the seller from the main amount.