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Belize Individual Income Tax Rates

Taxes for Individuals in Belize

(a.) Rates

Rates for tax year commencing on the first basis day in 1999:

i. The standard rate of twenty-five percent will be charge on the basis of chargeable income of every employed person.[1]

ii. The standard rate of twenty-five percent will be charged on the basis of chargeable income of every person not considered an employed person.[2]

  • a. Any business tax paid during the current year will count as a credit towards tax owed on chargeable income.
  • b. Any excess business tax paid over the income tax due will be carried forward as a business expense into the following year.

iii. The rate of five percent on gross interest received from time deposits will be charged at source and is final.[3]

iv. The rate of fifteen percent will be charged on lottery winnings at source and is final.[4]


[1] Income and Business Tax Act (Chap. 55), 2000 Revision, § 20.
[2] Id. § 21.
[3] Id. § 20.
[4] Id.