What is the Belize Income and Business Tax Act (IBTA)?

Since January 1, 2019, Belize international business companies (IBCs) are no longer automatically exempt from taxes. Like a domestic business, these IBCs are subject to the Belize Income and Business Tax Act (IBTA).Under IBTA, Belize has a dual taxation system. Businesses are levied with two sorts of taxes: Belize business tax (equivalent to VAT) is computed on gross income or turnover; Belize corporate income tax (CIT) is computed on chargeable income.The general Belize income tax rate is 25%.

What is the Seychelles capital gains tax rate?

There is no Seychelles capital gains tax; nor are interest - dividends and other payments received from abroad taxed.

What is the Seychelles company tax rate?

Based on Seychelles Business Tax Act 2009, the Seychelles company tax rate (i.e. Seychelles corporate tax or business tax) is 25% on the first SR 1,000,000 of taxable income and 33% on the remainder.The Seychelles IBC tax rate is 0%, which means offshore companies in Seychelles can optimize their tax flow, and increase their profits. In addition, company income derived from services outside of Seychelles will not be taxed on dividends, interests, royalties, or other payments paid out to its stakeholders.For more information about Seychelles company tax rate, please contact us via Hotline +65 6591 9991 or email support@oneibc.com.

What ís the Seychelles tax guide?

The summary of Seychelles tax guide for offshore companies: A 1.5% tax rate applied to special license companies; The applicable business tax rates for companies are 25% for the first 1,000,000 SCR and 33% on any amount above it; Seychelles capital gains are exempted; No stamp duty; A reduced VAT rate of 0%.In case you are looking for more Seychelles tax guides, you can visit our website or contact our specialists directly via email/hotline.

How do I get a business license in Belize?

When doing business in Belize, it is important to get the right business license for your company. Generally, there are two main types of Belize license that you must know:Trade license in BelizeBusinesses providing any kind of service or product in Belize have to obtain a trade license. You can register the license with the local city or town council. The fees for trade licenses in Belize are divided into sectors and charged based on the annual rental value of the property. For instance, supermarkets, grocery stores, furniture stores, and repair businesses are subject to a 3.5% fee. Hardware stores, gas stations, and dentistry offices are all subject to a 5% fee. For businesses engaging in gaming or monopolies, the highest rate is 25%.Belize financial licenseIf your business operates in the international financial services industry in or from within Belize, you must carry a Belize financial license. The Belize Financial Service Commision (FSC) is in charge of granting the license. There are 13 types of Belize financial license, prominently including International asset protection and management, Money Transmission, Accounting, and Payment processing Services. The application fee is flat US$1,000 for each type, but the renewal fee is different ranging from US$5,000 to US$25,000.

What happens if I don't pay the annual IBC renewal fees?

Non-payment of annual renewal fees will make the offshore company lose its status of good standing, the company will also incur severe late penalties and legal consequences.

At any time after the due-date of the Government fees, the Registrar of Companies is entitled to strike-off the company from the Registry for non-payment of fees, after giving the Company a 30-day notice.

Belize company formation
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Related FAQs

1. How do I register a business name in Belize?
2. Should I register a business name in Belize?
3. How do I get a business license in Belize?
4. What is the Seychelles capital gains tax rate?
5. What is the Seychelles company tax rate?
6. What ís the Seychelles tax guide?
7. What is the Belize Income and Business Tax Act (IBTA)?
8. What is the Belize income tax rate for IBCs?
9. Are IBCs exempted from Belize business tax?
10. Time frame and quotation of the incorporation process?
11. What is the cost of registering an IBC company in Belize?
12. What is the Belize capital gains tax rate?
13. Belize Offshore Company Formation - How it works?
14. Can I set up a company with the Nominee Director and Shareholder?
15. Where should the offshore company open a bank account?
16. Can a foreigner open a bank account in Belize? What are the required documents needed to prepare to open an offshore account?

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