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
All resident international business companies (IBCs), including members of a Public Investment Company (PIC) group, who were exempt from the payment of income and business tax prior to 1 July 2021 shall file their first annual tax return of receipts on or before 31 March 2022.
Belize Tax Service Department Advisory
The Tax Administration and Procedure (Amendment) Bill, 2021 gives the Belize Tax Service Department the power to publish the names of all income, business and general sales tax defaulters in the Government Gazette
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”).