A fiscal representative in Belize assists company owners with making the needed tax filing submissions, handling financial requirements, navigating the country’s tax regulations, and other important matters related to local business operations.
If you are considering the advantages related to Belize company formation, having a fiscal or tax representative can be highly beneficial. When working with a tax representative you can streamline your financial processes, minimize potential risks, and focus on growing your business.
Our team not only offers services for Belize offshore company formation but also those related to tax services, including packages that allow you to choose to work with one of our agents who acts as a fiscal representative in Belize.
Services offered by a tax representative in Belize
The fiscal representative is an appointed agent who acts on behalf of the taxpayer (the Belizean legal entity) in its relation to the Belize Tax Service, or IRIS Belize.
The role of the tax representative is an essential one for the company’s overall compliance and when appointing a third party for this purpose, entrepreneurs should take careful consideration. Our team works with experienced service providers and can help you with services offered by a fiscal representative in Belize. Broadly, these include the following:
- Act as representative of the Belizean company in front of the local tax authorities;
- Prepare the tax returns and file them accordingly;
- Communicate with IRIS Belize as needed, responding to inquiries made to the company, on its behalf;
- Handle audits and requests from the authorities;
- As needed and as required, prepare tax strategies meant to increase the company’s tax efficiency.
Company owners in Belize can be international investors who will not necessarily be interested in residency in Belize, meaning that they will not be staying in the country permanently in order to see to the important business submissions and issues that may arise during the course of their business activities. Appointing a fiscal representative in Belize thus becomes recommended and highly beneficial.
Investors who wish to understand the local tax laws, requirements, and liabilities can also discuss relevant legal matters with our lawyers in Belize. If you would like to know more about other legal issues, you can also talk to our team about immigration to Belize and citizenship in Belize.
Taxation in Belize
The fiscal representative in Belize can be the appointed third party who will handle the essential submissions to the IRIS, however, the company founders should be informed of the main tax obligations that derive from doing business in the country.
The Belize business tax has varying rates according to the types of business activities. We present some examples below:
- 19% for telecommunication companies;
- 1.75% for earnings on insurance companies;
- 15% on gross income from gaming businesses and casinos; this rate also applies to real estate agents;
- 6.5% for energy services providers.
Please note that the aforementioned taxes are offered as an example and other rates apply for other business activities not specifically mentioned above. according to the Business Tax Act, several exemptions from the business tax apply.
In addition to the business tax, the general sales tax, or GST, is also applicable in the country. Meeting the requirements, as well as handling the proper return completions and submissions is undertaken by the tax representative when appointed.
Contact us for complete information about the services we provide as a fiscal representative in Belize and how we can help you with your business, as early as the first steps for Belize company formation.