Belize Tax Overview

Belize tax system at a glance

Belize taxes individuals and businesses primarily through the Income and Business Tax Act, supplemented by a General Sales Tax (GST). Notably, most active businesses are taxed on gross receipts (business tax) rather than net profit, and there is no capital gains tax.

• Tax year — Calendar year (1 January to 31 December) (Income and Business Tax Act (Cap. 55))
• Currency — Belize dollar (BZD), pegged at BZD 2 = USD 1 (approx — confirm peg still in force) (Central Bank of Belize Act)
• Tax authority — Belize Tax Service Department (BTS) (Belize Tax Service Department)
• Social security authority — Social Security Board (SSB) (Social Security Act)
• Residence / taxation basis — Income tax is charged on income accruing in or derived from Belize; residents are generally taxed on Belize-source income (territorial emphasis) (approx — confirm scope for foreign-source income) (Income and Business Tax Act (Cap. 55))
• Headline personal income tax rate — 25% flat on chargeable income percent (Income and Business Tax Act (Cap. 55))
• Headline business tax (companies) — Business tax on gross receipts at activity-specific rates (commonly 1.75% trade, 3% rents/royalties, 6% professions); 25% income tax applies to petroleum operations percent (Income and Business Tax Act (Cap. 55))
• Does a VAT/GST exist? — Yes — General Sales Tax (GST) at a standard rate of 12.5% percent (General Sales Tax Act)
• Capital gains tax — No separate capital gains tax in Belize (Income and Business Tax Act (Cap. 55))
• Annual income tax return deadline — 31 March following the end of the tax year (unless extended by the Commissioner) (Income and Business Tax Act (Cap. 55))
• GST return frequency / deadline — Monthly; return and payment due by the 15th of the following month (Form BTS210) (General Sales Tax Act)