Registration
Business Tax Registration
- Persons carrying on a trade or business which earns $75,000.00 or more per annum where such receipts are the only source of livelihood of the person;
- Persons practicing a self-employed profession or vocation, earning $20,000.00 or more per annum where such receipts are the only source of livelihood of the person;
- Persons engaged in the business of investment or earnings from real or personal property;
- Persons engaged in the provision of personal services, including Tour Operators, Travel Agents and other Commission Agents
GST Registration
You must register for GST if your annual turnover is $75,000.00 or more per annum. Turnover is the total value of taxable supplies/sales/receipts/takings made for all your taxable activities but does not include the GST charged. Any person that has been carrying on a business for less than 12 months and the average monthly value of taxable supplies was $6,250.00 monthly or more, is also required to register for GST.
It should be noted that every promoter of public entertainment and every licensee or proprietor of places of public entertainment must be registered even if their annual gross sales/receipts are less than $75,000.00.
- an approved educational institution; or
- the board of management or parent – teacher association of an approved institution;
- a person who provides entertainment on a daily or weekly basis;
- or a church registered under the Charities Act.
Voluntary GST Registration
- Whether he is carrying on or intends to carry on a business
- Makes or intends to make supplie that would be taxable if he were registered
- 80% or more of the supplies will be made to taxable persons.
Once registered output tax (tax on sales) will have to be accounted for on all taxable supplies. Also, input tax credit (tax on purchases) can only be claimed on those purchases that are directly attributable to taxable supplies.
How Do I Register for Business Tax and/or GST?
To register, an Application for Registration Form needs to be filled out. This form can be obtained from any local BTS Office. When you are applying for registration, to prevent delay, it is necessary to submit copies of the relevant documents mentioned below with the Application for Registration form to the Belize Tax Service.
Requirements for Registration
- Company – Completion of form – BTS100
- Requirements needed
- Copy of Company registry certificate chapter 250
- Articles of Association
- Memorandum of Association
- BTS101 for all shareholders, directors, and employees along with copy of social security card and/or passport
- BTS103 where there is additional space required to list members and Directors of the Company
- If a shareholder is a Business, another registration is required for that shareholder
- BTS102 – Registration Details for Persons requesting Voluntary General Sales Tax Registration but not meeting the required threshold
- Requirements needed
- Partnership – Completion of form – BTS100
- Sole-proprietorship/Individuals – Completion of form – BTS100
- Requirements needed
- Copy of Company registry certificate chapter 247 (If a person has a Trade Name for his/her business). Kindly note if a person does not provide a registration certificate for his/her trade name, do not include Trade name on the application
- BTS101 for all individual and employees along with copy of social security card and/or passport
- BTS102 – Registration Details for Persons requesting Voluntary General Sales Tax Registration but not meeting the required threshold
- Requirements needed
- Kindly note if there are any changes made within your company whether change of name, address or location etc. form BTS104 – Application to Change Status Details or Cancel Registration is required to be filled out and submitted to the Belize Tax Service Department.