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withholding tax

monkey8 · 2012-05-31 17:24:07

I have a company that paid withholding tax for professional services during the year. We made a loss this year and i took no salary. Do i get withholding tax back at some stage?

31-05-2012 5:24pm

#1

monkey8

Registered Users, Registered Users 2 Posts: 386 ✭✭

Join Date: February 2011

Posts: 214

I have a company that paid withholding tax for professional services during the year.
We made a loss this year and i took no salary.
Do i get withholding tax back at some stage?

0

Comments

#2 31-05-2012 10:14pm

paul71

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Join Date: June 2010

Posts: 3284

No.

From the way said it, ie. your company paid with-holding tax that means you withheld a portion of the gross fee payable to someone who did work for your company. Therefore the with-holding tax paid by you is a tax credit for the other company to reclaim or offset against their liability.

If the reverse were true and someone else with-held tax from a payment made to your company then you would be in a position to reclaim that from the revenue.

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