Will Belize make me pay income tax on money I earn outside of Belize?
David Drummond - Georgetown Trust
The concept of tax in Belize is very much dependent on what type of work you are doing in Belize. As an example, a hotel owner pays a hotel tax. A business owner pays a business tax. A worker pays an income tax. So how and what you are doing in Belize will dictate the type of tax that you would be subject to pay to Belize.
If I move to Belize but my income comes from outside of Belize because I am not technically working on my source of...
The concept of tax in Belize is very much dependent on what type of work you are doing in Belize. As an example, a hotel owner pays a hotel tax. A business owner pays a business tax. A worker pays an income tax. So how and what you are doing in Belize will dictate the type of tax that you would be subject to pay to Belize.
If I move to Belize but my income comes from outside of Belize because I am not technically working on my source of income while I am here, then Belize will not tax me on the income I generate outside of Belize. They will, however, tax me on income generated inside of Belize.
If you get taxed in Belize, you pay 25% of your taxable income that you generate while you are in Belize over what boils down to being about US $10,000.
(Casa Olita on Cayo Espanto, a private Island in Belize, pictured.)
Posted March 9, 2015
Phil Hahn - Carmelita Gardens
If your income is generated in Belize, then you will have to pay Belizean income tax. However, if your income is generated outside of Belize, it is not taxed in Belize. A few examples of income that expats in Belize generate, but do not have to pay Belize Income Tax on are U.S. or Canadian pensions / social security, Internet based income, or the sale of real estate in Europe, just to name a few.The vast majority of countries do not tax their citizens on income made outside of...
If your income is generated in Belize, then you will have to pay Belizean income tax. However, if your income is generated outside of Belize, it is not taxed in Belize. A few examples of income that expats in Belize generate, but do not have to pay Belize Income Tax on are U.S. or Canadian pensions / social security, Internet based income, or the sale of real estate in Europe, just to name a few.The vast majority of countries do not tax their citizens on income made outside of their country. However, US citizens should be aware that they are taxed on their worldwide income, regardless of the tax consequence in Belize.
(Pictured: US Social Security Building.)
Posted April 1, 2016
Stewart Patton - U.S. Tax Services
Hopefully a Belize lawyer or accountant will stop by to answer this question. You should absolutely NOT trust an answer on a tax issue from anyone else. Hopefully a Belize lawyer or accountant will stop by to answer this question. You should absolutely NOT trust an answer on a tax issue from anyone else. Posted April 3, 2016
Virginia Krohn - Villa Cayo Belize
No, Belize will not make you pay taxes on money you earn outside of Belize. You could have passive income from a rental property or income from a US consulting or internet business and the money could come to you in Belize tax free because it is not earned income in Belize. Please check with a lawyer for accurate information pertinent to you. If you have income in the States you could leave your money there, transfer your money...
No, Belize will not make you pay taxes on money you earn outside of Belize. You could have passive income from a rental property or income from a US consulting or internet business and the money could come to you in Belize tax free because it is not earned income in Belize. Please check with a lawyer for accurate information pertinent to you. If you have income in the States you could leave your money there, transfer your money to a Belize money exchanger or you could put it in an offshore account if you’re not a citizen. You cannot have an offshore account if you are a citizen of Belize. On a side note, you cannot have more than $10,000BZ on you at any one time. So you wouldn’t want to go to your money exchanger and have them convert US $10,000 into BZ $20,000 because if you get involved in a traffic incident or are stopped by the police for any reason and they discover it, they can confiscate it.
(Caye Caulker, Belize, pictured.)
Posted August 14, 2016