News

NOTICE TO FORMER INTERNATIONAL BUSINESS COMPANIES

The Director General hereby notifies all former International Business Companies (IBCs) now companies, of our new requirement concerning the filing of returns.
With immediate effect, all former IBCs obligated to file taxes with our offices, must include a certified copy of their company’s annual financials with their yearly returns.
Taxpayers are being encouraged to utilize our ONLINE SERVICE through the IRIS Belize e-portal to create an online account for filing and making payments online.

PUBLIC RULING GENERAL SALES TAX TREATMENT OF TAX FOR RETURNABLEBEVERAGE CONTAINERS

1.0
OBJECTIVE
1.1 The objective of this public ruling is to set out the Director General’s interpretation of the application of specific provisions of the General Sales Tax Act (GST Act) to the transaction specified below.
1.2 The purpose is to achieve consistency in the administration of tax legislation and to provide guidance to the public and officers of the Belize Tax Service Department (“BTSD”).
1.3 This public ruling is made pursuant to Section 9 of the Tax Administration and Procedure Act, (“TAPA”) and is binding on the Director General until revoked. This public ruling is not binding on the taxpayers.

PAYE, CONTRACT AND GST REQUIREMENTS

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:

CRS XML UPLOAD FILING

CRS XML Upload Filing
To perform a CRS XML Upload Filing reporting New Data, kindly follow the steps below:
Note: Our CRS portal will accept files which are CRS XML Schema 2.0 compliant only. For CRS XML Schema 2.0 and CRS User Guide visit https://www.oecd.org/tax/automatic-exchange/common-reporting-standard/schema-and-user-guide/. Also, ensure your XML files are under 30MB in size.
1. Select Filings from the main Menu to access the Manage Filings page.
2. Click the Create Filing button. Enter Filing Name of your choice. Select CRS XML Upload Filing filing type. Enter applicable Period End Date (31 December of relevant filing year). Click the Create button.
3. Select filing name created at the screen that pops up. Your filing will also be available in the draft filings section of the Filings menu.

CRS NIL REPORT AND FILING INSTRUCTIONS

CRS Filings Summary/Nil Report
These instructions are provided for financial institutions to submit a Nil report or CRS Filing Summary after reporting is complete.
1. Select Filings from the main Menu to access the Manage Filings page.
2. Click the Create Filing button. Enter Filing Name of your choice. Select CRS Filing Summary filing type. Enter applicable Period End Date (31 December of relevant filing year). Click the Create button.
3. Select filing created at the screen that pops up next. Filing will also be available in the Draft Filings section of the Filings menu.

CRS MANUAL FILING INSTRUCTIONS

CRS Manual Filing
To perform a manual CRS Filing reporting New Data, kindly follow the steps below:
1. Select Filings from the main Menu to access the Manage Filings page.
2. Click the Create Filing button. Enter Filing Name of your choice. Select CRS Manual Entry filing type. Enter applicable Period End Date (31 December of relevant filing year). Click the Create button.
3. Select filing name created at the screen that pops up. Your filing will also be available in the draft filings section of the Filings menu.

GUIDELINES FOR PAYING TAXES THROUGH ATLANTIC BANK

The general public is hereby notified that effective May 8, 2023, any payment made through Atlantic Bank to any Belize Tax Service Department (BTSD) account via teller deposits, third party or other bank transfers will not be applied to BTSD accounts. Payments to the Belize Tax Service Department from Atlantic Bank are to be made only through the Bill Pay services via Atlantic Online or tellers countrywide.

Companies Previously Classified as International Business Companies

Pursuant to the enactment of the new Belize Companies Act, Act no. 11 of 2022, and the amalgamation of registries to one Belize Companies and Corporate Affairs Registry, the Director General hereby notifies ALL companies, previously classified as International Business Companies as per the repealed International Business Companies Act, Chapter 270 of the Laws of Belize that effective immediately, your applications for a Tax Identification Number(TIN) must be submitted directly to the Belize Tax Service using the email below:
Internationalcompliance@bts.gov.bz