WITHOLDING Definition

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WITHOLDING, dependent upon application, is: a. income tax withheld from employees wages and paid directly to the government by the employer; or, b. a tax deducted from dividends on investments which are paid to foreign investors. This can be claimed back if there is a Double Taxation Agreement in place between the countries. See WITHHOLDING TAX.

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PMSI is Purchase-Money Security Interest; it is normally a lien resulting from a purchase, e.g. an auto loan.

EQUITY FUND is a mutual fund whose portfolio consists primarily of common stocks.

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