The Government of Belize has adopted an amendment to the Income and Business Tax (amendment Act 2021), which introduces several changes to the IBC:
Changes do not apply to the formation and renewal of companies with more than $ 50,000 in share capital.
We also remind you of the deadline for filing a tax return:Companies established before October 17, 2017 must file their first tax return no later than March 31, 2022 for the fiscal period July 2021 – December 2021.
Common usage of Belize company
FEATURES | BEFORE JANUARY 1, 2019 NOT REQUIRED |
AS OF JANUARY, 2019 WITH PHYSICAL PRESENCE |
AS OF JANUARY, 2019 NO PHYSICAL PRESENCE |
---|---|---|---|
Residency and property ownership | Restricted – not to include land, shares, debt obligations and other assets in Belize | Not Restricted | Not Restricted |
Shareholding Ownership | Restricted to non-residents of Belize | Not Restricted | Not Restricted |
Subject to Income and/or Business Tax | No | Yes | Subject to tax if income/receipts sourced from Belize, otherwise not subject to tax |
Filing requirement | No | File annual tax return, pay monthly business tax. | File annual tax return if income/receipts sourced from Belize. Otherwise, optional to file annual tax return. |
Dividends (paid or received) | Tax exempt | Tax exempt | Tax exempt |
Interest (paid or received) on bonds | Tax exempt | Tax exempt | Tax exempt |
Standard currency | USD | USD with operational activities conducted in Belize subject to BZD | USD |
Exchange control permit | No | Yes | No |
Stamp duty | No | No, unless IBC owns property in Belize other than shares in another IBC | No, unless IBC owns property in Belize other than shares in another IBC |
Physical presence | Not required | Mandatory for licensees of the International Financial Services Commission (IFSC) | Optional for Others not having an IFSC license |
Accounting records | Yes | Yes | Yes |
Audit requirements | No | May be required by the Commissioner of Income Tax if annual receipts are at least US$6mn | May be required by the Commissioner of Income Tax if annual receipts are at least US$6mn |
Tax resident in Belize | No | Yes | No |
Certificate of Good Standing (CGS) requires tax compliance | No | Yes | Ano |
Type of business / activity | Rate % on gross Income |
---|---|
Commissions and royalties | 5.0% & 15.0%, 0% for non-residents |
Local dividend withholding tax | 15%, 0% for non-residents |
The interest income from financial institutions | 6%, 12% & 15%, 0% for non-residents |
Income of radio, television, and newspapers companies | 0.75 % |
The income of service stations including fuel/lubricant | 0.75 % & 1.75 % |
Income of national airlines | 1.75 % |
Insurance premiums | 1.75 % |
Regular trade or business | 1.75 % |
Services for the supply of electricity | 1.75 % |
Rental Income | 3.0 % |
Casino and gambling | 8.0 % |
Real estate business | 1.75 % & 15.0 % |
Tour operators and travel agencies | 6.0 % |
Construction | 1.75 % & 6 % |
Professional services | 6.0 % |
Dividends paid by telecommunications service provider | 0 % |
Revenues from telecommunications provider | 19.0 % |
International financial services (IFSC License Holders) | 3 % |
Belize has modern International Business Companies Act, Hedge funds law and Offshore banks Act, all focused on providing the best environment and benefits for international investors and entrepreneurs. These laws are effectively supported by the financial service sector.
Belize does not disclose information even on suspicious of tax evasion or similar reasons. In addition it is completely tax-free the Belize IBC has no requirement for the minimum amount of paid-up capital, also no requirements for providing reports on the accounts.
Belize IBC is an ideal tool for all international business or services.
Establishment of the company, its settlement, delivery of apostilled documentation, bookkeeping. All under one agency.
Do you have a foreign company and don’t know if you have fulfilled all your legal obligations? We can help you to check and comply with all government requirements.
Are you dissatisfied with the performance of your directors? Are they not meeting deadlines? Try us.
Do you already have an offshore company? Do you want better conditions? Change your registration agent.
Žitná 562/10
Praha 2, 120 00
In 1996 we became a registration agency as Parker & Hill Ltd. In 2011 we underwent a transformation and began to operate internationally under Parker & Hill Inc.
We are a member of the international consortium NWMS Ltd. We incorporate companies directly for you within 16 jurisdictions. We are not re-seller, we are the registration agency.
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