Filing FAQ

When should the GST return be submitted and when should the payment be made?

All registered persons must submit a GST return each month. The GST return must be submitted no later than 15 days after the end of the tax period. For example, all purchases and sales for the month of July (July 1 to July 31) must be declared on a GST return that must be submitted by 15 August. In this example, August 15, is the “due date” of the GST return. Any tax payable for the tax period must also be paid at the same time the GST return is submitted.

What is a TIN?

Tin or “Taxpayer Identification Number”, in relation to a registered person, means the unique identifying number shown on the certificate of registration issued to that person under section 27 of the GST Act. 

Can the GST return cover more than one tax period?

No. Each GST return should cover only one calendar month. If for some reason, you have not filed a return for several months, then you will be required to submit one return for each month that you have missed.

Can I request a copy of my return from the Department?

You can request for a copy of your return, for a small fee of $25.

What if I must be away from my business for a time?

You can arrange for someone else to complete your GST Returns and make payments on your behalf.

What happens if I have made a mistake on my previous return?

If such an amount is less than $50.00 then you can report the error on your next return using either lines 150 or 240. If the amount is greater than $50.00 then please inform the Department, who will take the necessary action to correct the error.

Can I submit a separate GST return for each branch or each division of my company?

No, this is not permitted. You must submit only one GST return for the entire company.

If a sole proprietor owns more than one business, can he submit one GST return for each business?

No, the sole proprietor will be required to submit only one GST return for all businesses.

How is GST charged on goods and services sold over the Internet?

Where a registered, Belize-owned entity provides goods and services to people in Belize over the Internet, they will charge GST at the standard rate (12.5%). Where a Belize entity sells goods and services over the Internet to overseas customers, GST will generally be charged at a rate of 0%. However, reasonable steps should be taken to verify the location of the customer and destination of the goods and services.

Does issuing an assessment for a period finalize the liability on it?

No. if it is discovered that fraudulent information has been supplied, or detalis have been left out, reassessments can be made at any time within six years from the end of the taxable period.

What type of records should I keep?

a) registration certificate;

b) tax invoices, till rolls and Z-tapes;

c) invoice books and any documents used to record sales or services;

d) tax invoices for tax paid on the purchase of goods and services;

e) custom documents for tax paid on goods imported;

f) debit and credit notes;

g) working papers used to record summaries of sales and services;

h) working papers used to make adjustment to your GST account;

i) GST account; and

j) GST returns and refund claims.

If my operation does not require the use of all records mentioned above, what are the basic ones I should keep?

If your operation does not facilitate the use of all the records listed in some of our guides or GST Regulations, you should ensure that the basic records are kept. The basic records include source documents and any other documents you are legally required to keep. Source documents are the original records used to indicate that, a sale/supply has been made; you have purchased goods and services and include any other documents that cause a transaction to happen including making an adjustment to your accounts.

In what format should I retain my records?

Persons who are required to keep records are responsible for retaining them in a manner that will ensure the reliability and readability of the information. It is always advisable that the records are kept in their original format.

There are various forms to retain records, including:

a) Traditional books and records, including supporting source documents produced and retained in paper format

b) Records retained in electronic readable format that can related back to the supporting source documents and that are supported by a system capable of producing accessible and usable copy

c) Supporting documents, e.g. Working papers, financial statements

If my accounting information is produced by a computer, what other factors should I consider?

If your output records are generated by means of a computer and information from your input records (relating to purchase of goods and services) is also transferred to a computer, you are required to retain all these computerized records in a readable format. Also, you must keep the original input source documents. This means that a person who utilizes computerized systems to generate invoices and other records must retain the electronic records and the hard copy. Electronically readable format means information supported by a system capable of producing accessible and useable copy.

My operation involves supplying goods and service via the internet. I also purchase items and make payments using this medium, what should I do?

Persons engaged in electronic commerce, which can be broadly defined as the delivery of information, goods, services or payments by telephone, computer, over the internet or by any other automated means, must retain the electronic records which identify or record those transactions. These records must be kept in an electronically readable format.

Electronic record-keeping refers to those electronic business systems that create, process, store, maintain and provide access to a person’s financial records. It includes, but not limited to custom and commercial accounting packages, point of sale systems and internet based electronic commerce.

You are responsible to keep and safeguard all electronic data files. You should also ensure that adequate systems are put in place to protect the accuracy and integrity of the electronic records.