The Director General hereby notifies the General Public that the Belize Tax Service Department Headquarters located at the Charles Bartlett Hyde Building, Mahogany Street Extension will be relocated effective 4th July 2022.
As a result, our office on Mahogany Street will be closed for business on Thursday 30th June and Friday 1st July 2022. Regular business will resume on Monday 4th July 2022 at 8:00am.
We deeply regret to inform you that the wire transfer details provided for payment of your taxes cannot be utilized for that purpose. We will provide the wire transfer details for tax payment purposes next week.
There will be no penalties or interest charged on late payments that were made because of this error.
We apologize for any inconvenience this may have caused as we work to rectify this issue.
AN ACT to amend the Income and Business Tax Act,
Chapter 55 of the Substantive Laws of Belize, Revised
Edition 2011; to enhance Belize’s competitiveness and
stimulate renewed growth in the international financial
services sector; and to provide for matters connected
therewith or incidental thereto.
Automatic Exchange of Information
Tax administrations cooperate with each other to fight tax evasion and protect the integrity of their tax systems. One area in which they can do this is through the “Automatic Exchange of Information”
The Government of Belize (GOB) has received financing from the Inter-American Development Bank (IDB) for the execution of a five-year tax modernization project entitled “Strengthening of Tax Administration” (BL-L1031). The main beneficiaries of the Project are: (a) the Government, which will have more revenues to implement its public policies; (b) taxpayers, who will have more support and a digital environment to fulfil their tax obligations; and (c) the population, from the government policies implemented. Through this project, the Belize Tax Service Department (BTSD) has procured a Modern Integrated Tax Administration System (the Revenue Management System (RMS)) and is presently in the implementation process. This new system will be used in the management of the Belize Tax Administration.
The Director General hereby notifies Taxpayers of our new requirement as it relates to the PAYE, Contract Tax and GST filing and payment.
With immediate effect, taxpayers are required to submit a listing as follow:
LARGE TAXPAYERS SHOULD FILE TAX RETURNS AND PAY TAXES ONLINE
Pursuant to Section 22 (2)(c) of the Tax Administration and Procedure Act, 2019, the Director General of the Belize Tax Service Department hereby specifies and notifies all large taxpayers (“LTPs”) that they are required to file tax returns and pay taxes administered by the Department online commencing October 2021.
The Department’s electronic channel is designed to make filing returns and paying taxes fast, convenient, uncomplicated, free, safe, and secure using the Department’s new, Integrated Revenue Information System (IRIS Belize) online portal.
Integrated Revenue
For the attention of all the Companies, including International Business Companies (IBC):
On 24th January 2020 Belize introduced country-by-country reporting by way of the Mu-tual Administrative Assistance in Tax Matters (Amendment) Act, 2020 (“the 2020 Amendment Act”) and also enacted accompanying Mutual Administrative Assistance in Tax Matters (Automatic Exchange of Country-by-Country Reports) Regulations, 2020 (“the Regulations”) facilitating the Automatic Exchange of Country-By-Country Reports. Multinational Enterprises (MNE) with consolidated group revenue of US$850 million or more (or its equivalent in any other currency) that have an ultimate parent entity resident in Belize to file a report within twelve months after its tax year ending December 2019 and for every subsequent reporting, within twelve months of the end of the financial year with the Belize Tax Services (“BTS”).
