TAX REGISTRATION SERVICES

In Belize, the law requires that each business operating and generating income must report monthly taxes. There are four reports required to be filed each month, these are: Business Tax, Income Tax, General Sales Tax (GST) and Social Security.

We can assist you in registering your business with these departments as well as prepare and file your tax reports, which includes keeping an account of the payments made monthly.

SOCIAL SECURITY
Everyone, as a member of society, has the right to social security and by Law; Social Security covers all employed persons. Each employer must be registered in order to report monthly contributions for their employees. When hiring, employers must ensure that the applicant has a valid Social Security card so they can verify their legal status.

  • Social Security is deducted weekly from employees' salary. The rate is dependant on the salary they receive.
  • Employers must also pay a portion of their employees' social security contribution as per the contribution schedule.
  • This social security report is due by the 14th of each month. Penalties apply for Late or Non-Filing.
  • Our Processing and Registration Fee is US $140.62; this includes preparing and submitting the application.
  • Monthly Filing Fee is US $112.50; this includes an accounting of the payments.

INCOME TAX Withholding for Employees Only
Income Tax is a tax on employees' income. When employees start receiving a monthly income of US $770.00, income tax must be deducted.

  • Income tax is deducted from employee's salary depending on the company's payroll policy, which can be weekly, bi-weekly, or monthly.
  • This monthly payroll tax report is due by the 10th of each month. Penalties apply for Late or Non-Filing.
  • At the end of the year, the employer submits to the Government of Belize a TD4 Report and Summary. The employer will provide their employees with copies so they can file their Annual Income Tax Return.
  • Monthly Filing Fee is US $112.50; this includes an accounting of the payments.
  • Preparation of yearly TD4 Reports is US $281.25 for up to 5 employees.

Note:TD4 Reports are due by February 28 each year. Employee's Income Tax Return is due by March 31 each year.

BUSINESS TAX
Business Tax is a tax on Total Gross Revenues or Receipts without any deduction for expenses.

  • All businesses operating in Belize must register with the Business Tax Department.
  • When the application has been approved, Business Tax Department will issue a Tax Identification Number (TIN), which is to be used when filing the monthly tax reports.
  • If your yearly gross receipts are US $37,500.00 or more you must pay Business Tax.
  • If a business does not meet the monthly threshold of US $ 3,125.00 (or annual US $37,500.00) it does not have to pay business tax.
  • Whether you meet the threshold or not, it is mandatory to submit a tax report showing your monthly income received.
  • The business tax rate is applicable to the type of business. Here are a few tax rates:
    • Trade or Business - 1.75%
    • Professionals - 6.0%

* You can request the tax rate for other type of business such as media, tours, etc…

  • This tax report is due by the 15th of each month. Penalties apply for Late or Non-Filing.
  • Processing & Registration Fee is US $168.75; this includes preparing & submitting the application to the business tax department.
  • Monthly Filing Fee is US $112.50; this includes an accounting of the payments.

Note: If your business is an Accommodation Service, such as a Hotel you are still required to submit a monthly business tax report on other services, such as food and beverage, whether or not you meet the threshold. Hotel Tax of 9% is charged to guests and must be reported to the Belize Tourism Board.

GENERAL SALES TAX (GST)
General Sales Tax is a 12.5% tax on consumer spending collected in stages, at the point of importation and on business transactions when goods change hands or services are performed.

  • Any business that makes or expects to make taxable supplies of goods or services of US $37,500.00 per annum or more is required to register for GST.
  • Only those registered can charge GST on their supplies as output tax and claim credit on purchases as input tax. You cannot claim input tax for items purchased before being registered.
  • If a registered business does not have any taxable transactions for the month, a "NIL" return must be submitted.
  • After the application has been approved, the GST Department will issue a Certificate of Registration using the same Business Tax Identification Number (TIN). The certificate is to be displayed prominently at the place of business..
  • Whenever goods or services are supplied by a registered business to another registered business a Tax Invoice must be prepared stating the words "Tax Invoice" and "TIN" of both businesses so you can be able to claim tax credit.
  • This tax report is due by the 15th of each month. Penalties apply for Late or Non-Filing.
  • Processing & Registration Fee is US $196.87; this includes preparing & submitting the application.
  • Monthly Filing Fee is US $112.50; this includes an accounting of the payments.

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