Paying Taxes in Belize

The table below addresses the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year in Belize, as well as measures of administrative burden in paying taxes.

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Tax or mandatory contributionPayments (number)Notes on PaymentsTime (hours)Statutory tax rateTax baseTotal tax rate (% profit)Notes on TTR
Business tax or CIT12 271.75% or 25%turnover or profits20.5 
social security12 60various ratesgross salaries7 
Business license1 -25.0%rental value of business premises0.8 
property tax1 -10.0%rental value of property0.5 
vehicle tax1 -various ratesranges between 250-300 BZD0.1 
Fuel tax1 -  0 
VAT/GST12 6010.0%value added not included
Totals:40 147  28.9 


Notes:
Name of taxes have been standardized. For instance income tax, profit tax, tax on company's income are all named corporate income tax in this table.
The hours for VAT include all the VAT and sales taxes applicable.
The hours for Social Security include all the hours for labor taxes and mandatory contributions in general.