Employers and those required to withhold tax use this return to report withholdings on payments such as wages, professional fees and rent, as well as employees' social security contribution details.
Related terms
Withholding taxPersons and entities making certain payments withholding tax at the time of payment and paying it to the tax office on behalf of the recipient.Tax returnThe official document in which a taxpayer reports the tax base and the tax calculated to the tax administration.Advance taxTax paid in advance during the year by income and corporate taxpayers, in quarterly periods, on current-period earnings.Arm's length principleThe principle that transactions between related persons should be carried out at the prices and on the terms that would apply between independent parties with no such relationship.Capital gainGains of individuals from disposing of certain assets and rights that are subject to income tax.Certified public accountant (SMMM)A professional authorised to keep taxpayers' books, prepare their financial statements and advise on accounting and tax matters.
Last updated: October 22, 2026 · This definition is for general information only.