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I.S.R retenido


cedros

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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.

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Thanks. HSBC likes using various abbreviations without explaining them. I guess I better go see them and ask why their tax rate is 100%.

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  • 2 months later...

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.

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