A withholding tax return is a document filed by a company or other withholding agent to report the amount of income tax withheld upon payments of certain incomes to payees/recipients. It's a form of tax collection by governments, where the payer of income pays a certain percentage (differs for residents and non-residents) of the payment directly to the government on behalf of the recipient.
Deadline Date: Payable within 5 days after the deduction is made.
Penalty for late filing: 5% of the tax due.
Penalty on late payment: 5% of the tax due and a late payment interest of 1% per month on the unpaid tax until the tax is paid in full.