cedros Posted April 15, 2011 Report Share Posted April 15, 2011 I am looking at my first statement from my HSBC account and they show a debit 3.15 I.S.R. retenido. (this is the same amount as the interest I got.) I wonder what ISR could mean. I assume retenido means retained. Link to comment Share on other sites More sharing options...
rjkveton Posted April 15, 2011 Report Share Posted April 15, 2011 Impuestos sobre la renta = taxes on investment income. Link to comment Share on other sites More sharing options...
cedros Posted April 15, 2011 Author Report Share Posted April 15, 2011 Thanks. HSBC likes using various abbreviations without explaining them. I guess I better go see them and ask why their tax rate is 100%. Link to comment Share on other sites More sharing options...
Intercasa Posted July 1, 2011 Report Share Posted July 1, 2011 Recently ran into the same issue and asked my friend who works there (HSBC). You have a non interest bearing account and that is the way they do their accounting, to show you interest and then take it away. Doesn't make much sense, much less confusing to not list any at all then to show it and an over withholding. In the end you don't earn interest which you didn't sign up for with that account type. Link to comment Share on other sites More sharing options...
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