Wednesday, January 27, 2010

Belize Joined the Flat Tax Club

Belize (formerly British Honduras), situated on the northeast tip of Central America, joined the flat tax club in 2009. Previously, personal income tax rates ranged between 25-45 percent, with an exemption for the first US$20,000 of income. The exemption remains at US$20,000, after which additional income is taxed at a flat rate of 25 percent.

Since January 1, 2009, corporate income tax was also set at 25 percent, down from the previous level of 35 percent.

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