Taxes for Individuals in Belize
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.
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.
- 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.
iv. The rate of fifteen percent will be charged on lottery winnings at source and is final.
 Income and Business Tax Act (Chap. 55), 2000 Revision, § 20.
 Id. § 21.
 Id. § 20.