Business Tax Registration

All businesses must register at Income Tax Department to obtain a Taxpayer Identification to pay tax. These businesses include sole proprietorship, companies and partnerships.
The following persons/entities are subject to payment of Business Tax:
       Persons carrying on a trade or business, who earn $75,000.00 or more per annum where such receipts are the only source of livelihood of the person;
       Persons practicing a self-employed profession or vocation, earning $20,000.00 or more per annum where such receipts are the only source of livelihood of the person;
       Persons engaged in the business of investment or earnings from real or personal property;
       Persons engaged in the provision of personal services, including Tour Operators, Travel Agents and other Commission Agents.
           
Business Tax Schedule

Source of Income

Rate of Business Tax 

Receipts from radio, on air television and newspaper business

0.75%

Receipts from domestic airline business

1.75%

Receipts from service stations for fuel and lubricants

0.75%

Receipts for other trade, trade and business

1.75%

Rents, royalties, premiums and any other receipts from real property (excluding the receipts from Real Estate Business)

3%

Receipts from a profession, vocation or occupation

6%

Receipts from an insurance company licensed under the Insurance Act

1.75%

Commissions (more than $25,000), royalties, discounts, dividends winnings from lotteries, slot machines, and table games and interest on loans paid to non-residents

15%

Commissions of less than $25,000.00 per annum

5%

Receipts of a financial institution under the Banks and Financial Institutions Act

15%

Receipt of a financial institution within a PIC Group

8%

Management fees, rental of plant and equipment and charges for technical services:– Paid to a non-resident- Paid to a non-resident

25% Rate depends on profession, business etc.

Receipts of entities providing telecommunications services

19%

Gross earnings from Casinos or licensed gaming premises

15%

Gross earnings from real estate business

15%

Procedure on Business Tax Registration:
  1. For companies, the applicant completes and submits the TR121A – Business Registration for Non-Individual application form to the officer at the front desk of the Income Tax Department along with: Certificate of Incorporation, copy of Articles of Association, copy of Memorandum of Association, copy of Trade License, and TR111 Individual Registration form for each employee.
  2. For the self-employed, a TR121B – Registration of Individual Enterprise form is completed and the following documents submitted: TR111 – (Registration Individual), copy of Trade License, copy of Certificate of Business Registration, and Personal Identification Card, and TR111 Individual Registration form for each employee.
  3. The Assessor inputs the data from the application form into the system which automatically generates a Tax Identification Number (TIN) for the applicant.  (This TIN is used for General Sales Tax, Customs & Excise Department registration).
  4. The Assessor issues the TIN to the applicant.

Ref: www.incometaxbelize.gov.bz
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