BELIZE, located on the north eastern coast of Central America, used to be one of the Mayan City States in the A.D millennium. The official language of Belize is English although Kriol and Spanish are commonly spoken. Tourism is the mainstay of the economy, followed by marine products, agricultural produce such as citrus, cane sugar, bananas, and garment manufacturing. The government’s expansionary monetary and fiscal policies, initiated in September 1998, led to sturdy GDP growth averaging nearly 6% in 1999-2004. However, the sizable trade deficit and foreign debt continue to be a major concern. A key short-term objective remains the reduction of poverty with the help of international donors.
Belize IBC companies are exempt from paying corporation tax and all dividends, interest, rent, royalties, compensations paid by a Belize IBC company to a non-resident are tax exempt. Also, there is no capital gains tax and no stamp duty is payable for share transfers or property transfers by a Belize IBC company.
International Aspects of Taxation:
Belize has agreed to sign a Legal Assistance Treaty with the US. It will share any information if it protects against money laundering and in order to combat international terrorism and the drug trade. Belize carries out due diligence through the KYC Process.
327,719 (July 2012 est.)
Native Language (s):