Important Notice – Belize Statutory Annual Obligations

According to our recent communication, the Government of Belize has started actively imposing monetary penalties on entities that do not fulfil their annual statutory obligations. These measures apply to all Companies and Limited Liability Companies (LLCs).

By communicating with the relevant Authority, we have obtained specific extensions and discretionary waivers for filing overdue Annual Tax Returns and Financial Statement Returns. We urge you to utilise this opportunity to regularise your entity and prevent the accumulation of daily fines.

To prevent last-minute delays and ensure timely filing, we kindly ask that you provide all pending information to us by November 30th, 2025.

Please be aware that we will not be liable for any penalties imposed by the Authority if the necessary documentation is submitted after this deadline.

1.     Annual Tax Return (applicable to Companies and Limited Liability Companies)

Entities are required to report their income from January 1st to December 31st of each year within the first three months of the subsequent year. Outstanding Annual Tax Returns must be filed by November 30th, 2025.

·         You can find the applicable form here: Annual Tax Return Form

2.     Financial Statement Return (applicable to Companies and Limited Liability Companies)

The Financial Statement Return is a summary return, meaning that uploading a complete Financial Statement is not required; only the return itself needs to be completed. Financial statement returns for the years 2023 and 2024 must be submitted by November 30th, 2025.

·         Access the form here: Financial Statement Return Form

·         User Guideline: Financial Statement Return Guidelines

Failure to submit annual tax returns and financial statement returns may lead to a fine of up to US$5,000 per year for each year of non-compliance. Additionally, entities with a 0% tax rate face a daily penalty of US$5.00 for up to 24 months. If taxes are owed, an additional 10% penalty is imposed, along with a daily interest charge of 1.5% on the outstanding amount.

Belizean entities must register with Tax Services to obtain a tax identification number, which is necessary for submitting the mentioned obligations. These filings should be made through the relevant Registered Agent.

·         Access the Tin Application Form here: Tin Application Form

Other Belize Statutory Annual Obligations

1.     Filing of the Economic Substance Declaration

2.     Annual Attestation Report

3.     Accounting Record

These procedures must be carried out through the respective Registered Agent. We would like to remind you of the deadlines for each of these obligations, which are as follows:

1.     Deadline for submitting the Economic Substance Declaration (for Companies and Limited Liability Companies):

2.     Annual Attestation Reports (for Limited Liability Companies and Trusts):

Limited Liability Companies and Trusts must submit a report identifying anyone who owns five percent or more, exercises direct or indirect control, or holds the role of member, manager, trustee, settlor, protector, or beneficiary. This report is due by March 31st of each year. The Annual Attestation Reports must be properly notarised.

3.     Accounting Records (for Companies and Limited Liability Companies):

According to the Accounting Records (Maintenance) Act, Amendment No. 39 of 2023, all companies must keep their accounting records in Belize at their Registered Agent’s office. The records required by the Act must be accurate and reliable, explaining and documenting all financial transactions to ensure proper recording and understanding. These records should also provide the necessary information to accurately determine the entity's financial position at any time and facilitate the preparation of its financial statements.

Additionally, these accounting records must be provided to the Registered Agent as needed and updated accordingly.

If you have any questions or need further assistance, please feel free to contact us at Contact@viss.com.hk.

Please refer to our latest post regarding all the aforementioned obligations: