Belize: Living There - Tax Issues
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Last Updated: May 14, 2008
Living There
INDIVIDUAL TAXATION
Residents are generally liable to pay tax on their worldwide income but individuals who reside in Belize but are domiciled elsewhere are only subject to tax on their Belize-sourced income.
Residents pay only 5% stamp duty when purchasing property.
INCOME TAX
Income is classified according to sources and is taxed accordingly.
Employment Income Tax
Income from employment is taxed at progressive rates, from 15% to 45%. Income up to BZD10,400 (US$5,318) are exempted from taxation.
Business Income Tax
Residents engaged in business in Belize are charged business tax, depending on the nature of their income:
INCOME TAX |
|
| NATURE OF INCOME | TAX RATE |
| Trade or Business (depending on industry) | 0.75% - 1.75% |
| Rental Income, Income from Real Property | 3% |
| Professional Services | 6% |
| Royalties, Dividends, Commissions | 15% |
| Source: Global Property Guide | |
Belize - more data and information
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