Most taxpayers will file the GST return and make the payment by the due date; however, the Department will accept advance payments. All you need to do is to visit the Department and inform them that you would like to make a payment in advance. You will still be required to file the monthly GST return and make any final payment by the due date.
If you make payment after the due date, you are liable for the following:
- Late payment penalty of 10% of the tax due where the payment is not made by the due date;
- Interest at the rate of 1.5% per month or part thereof for the period during which it remains unpaid.
If you fail to pay the tax and/or penalty you owe the government, the GST Act empowers officers of the Belize Tax Service to commence collection action.
Payments made online must be done before 07:00 PM, any payment made after 07:00PM would be accounted for the next working day. Payments not made by 7:00pm on tax due date will attract Penalty and Interest.