Here you will find some of the more frequently asked questions about GST. If you cannot find the information you are looking for, please contact us at GST.unit@gst.gov.bz.

  1. What is the threshold for registering for GST?

You must register for GST if your annual turnover is $75,000 or more per annum. Turnover is the total value of taxable supplies/sales/receipts/takings made for all your taxable activities, but does not include the GST charged.

  1. How could we verify that a person is registered for GST?

Look for the green GST certificate at the place of business or request that it be presented to you.

  1. What is a TIN?

TIN or” Taxpayer Identification Number””, in relation to a registered person, means the unique identifying number shown on the certificate of registration issued to that person under section 27 of the GST ACT;

  1. What is the GST standard rate?

The standard rate of GST is 12.5%. Most goods and services provided by businesses will be taxed at the standard rate.

  1. What are zero-rated supplies and how much GST must I charge and account for on them?

The GST law schedules 1,2,and 3 provides for taxable supplies at the rate of 0%.

  1. How is GST charged on goods and services sold over the Internet?

Where a registered, Belize-owned entity provides goods and services to people in Belize over the Internet, they will charge GST at the standard rate (12.5%).

Where a Belize entity sells goods and services over the Internet to overseas customers, GST will generally be charged at a rate of 0%. However, reasonable steps should be taken to verify the location of the customer and destination of the goods and services.

  1. What if a registered person has several taxable activities?

A registered person with several taxable activities is required to combine the turnover from all taxable activities and include them in one return.

  1. What if I am operating from more than one branch?

If you operate from several branches, the turnover for all branches must be added together to determine whether the business needs to be registered for GST. Additionally, you will be required to display copies of the registration certificate at each branch.

  1. What happens if I don't fulfill my tax obligations?

The tax system relies on voluntary compliance. If you don't fulfill your tax obligations you may be charged penalties and interest. Failure to comply might be quite unintentional, but if you find that you've made a mistake, please contact the Department of GST as soon as possible so that we can fix it.

  1. Does issuing an assessment for a particular period finalize the liability on it?

No. If it is discovered that fraudulent information has been supplied, or details have been left out, reassessments can be made at any time within six years from the end of the taxable period.

 

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