| 单词 | deductions at source |
| 释义 | deductions at source A method of tax collection in which a person paying income to another deducts the tax on the income and is responsible for paying it to the authorities. Tax authorities have found that, in general, it is easier to collect tax from the payer rather than the recipient of income, especially if paying the tax is made a condition of the payer's obtaining tax relief for the payment. The payee receives a credit against any tax liability for the tax already suffered. Examples of this in the UK tax system are PAYE, share dividends, interest on government securities, deeds of covenant, trust income, and sub-contractors in the building industry. Normally, tax is deducted at the basic rate of income tax only, although in certain cases, such as PAYE and payments from discretionary trusts, other rates might be used. |
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