Business Tax Registration

All businesses are required to register with the Belize Tax Service (BTS) and obtain a Taxpayer Identification Number (TIN) for tax purposes. To enhance service delivery, the BTS has implemented an online system known as IRIS Belize. This includes sole proprietorships, companies, and partnerships.


Business Tax applies to the following:

    • Individuals carrying on a trade or business with an annual income of $75,000.00 or more as their sole source of income.
    • Self-employed professionals or vocational practitioners earning $20,000.00 or more annually as their sole income source;
    • Persons with investment businesses or income from real or personal property.
    • Persons practicing a self-employed profession or vocation and earning $20,000.00 or more per annum as their sole source of income.
    • Persons engaged in investment activities or deriving income from real or personal property.
    • Persons engaged in the provision of personal services, such as tour operators, travel agents, and other commission agents.

 

Business Tax Schedule

 

Source of Income

Rate of Business Tax

Receipts from radio, on-air television, and newspaper business

0.75%

Receipts from domestic airline business

1.75%

Receipts from service stations for fuel and lubricants

0.75%

Receipts for other trade, trade, and business

1.75%

Rents, royalties, premiums, and any other receipts from real property (excluding the receipts from Real Estate Business)

3%

Receipts from a profession, vocation, or occupation

6%

Receipts from an insurance company licensed under the Insurance Act

1.75%

Commissions (more than $25,000), royalties, discounts, dividends winnings from lotteries, slot machines, and table games, and interest on loans paid to non-residents

15%

Commissions of less than $25,000.00 per annum

5%

Receipts of a financial institution under the Banks and Financial Institutions Act

15%

Receipt of a financial institution within a PIC Group

8%

Management fees, rental of plant and equipment and charges for technical services: – Paid to a non-resident- Paid to a non-resident

25% Rate depends on profession, business etc.

Receipts of entities providing telecommunications services

19%

Gross earnings from Casinos or licensed gaming premises

15%

Gross earnings from real estate business

15%

 

Procedure for Business Tax Registration (BTR):

  1. For companies, the applicant completes and submits the TR121A –

          Who files companies’ BTS 100 forms?    

    • The BTS 100 form must be completed by all shareholders, directors, and employees. A copy of their social security card or passport is required.  For company registration, the following documents must be submitted to the officer at the front desk of the Income Tax Department: a copy of the Company Registry Certificate (Chapter 250), Articles of Association, Memorandum of Association, Business Registration for Non-Individual application form, Certificate of Incorporation, Trade License.
  1. Self-employed individuals must complete the following steps for registration:
    • Complete the TR121B – Vendor form for business, BTS 100, and BTS 102 (for those voluntarily registering for GST but not meeting the threshold).
    • Provide a copy of their land title, lease agreement, or rental agreement.
    • Complete the Registration of Individual Enterprise form.
    • Submit the following documents:
    • TR111 – (Registration Individual) form
    • Copy of Trade License
    • Copy of Certificate of Business Registration
    • Personal Identification Card
    • TR111 Individual Registration form for each employee
  1. The Assessor inputs the data from the application form into the system which automatically generates a Tax Identification Number (TIN) for the applicant. This TIN is used for registration with the General Sales Tax and Customs & Excise Departments.
  2. The Assessor issues the TIN to the applicant.

 

Official Link Here: https://bts.gov.bz/

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