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employee
Withholding agent is any person or entity who is in control of the payment subject to withholding tax
and therefore is required to deduct and remit taxes withheld to the government
Final Withholding tax is a kind of withholding tax which is prescribed on certain income payments and is
not creditable against the income tax due on the payee on other income subject to regular tax rates of
tax for the taxable year. Income tax withheld constitutes the full and final payment of the income tax
due from the payee on the particular income subjected to final withholding tax.
Final taxes are taxes prescribed on certain income. Once an income is subjected to final tax, it will not be
furthered taxed under the normal or capital gains tax. It is a tax specifically extracted on a specifically
defined income on the Tax Law. They are somewhat treated in a special way since they have their own
tax rate.