No. 13 of 2010AN ACT to amend the Income and Business Tax Act, Chapter 55 of the Laws of Belize, Revised Edition 2000 - 2003, to provide tax relief to employed persons earning not exceeding $26,000 per annum; to increase the rate of business tax for electricity supply services; and to provide for matters connected therewith or incidental thereto.
(SIR COLVILLE N. YOUNG)
31st March, 2010.
(Gazetted 1st April, 2010.)
BE IT ENACTED, by and with the advice and consent of the House of Representatives and the Senate of Belize and by the authority of the same, as follows:-
1. This Act may be cited as the
INCOME AND BUSINESS TAX
(AMENDMENT) ACT, 2010,
and shall be read and construed as one with the Income and Business Tax Act which, is hereinafter referred to as the principal Act.
2. Section 16 of the principal Act is hereby amended by repealing subsection (1) thereof and replacing the same by the following:
“(1) In ascertaining the chargeable income of an employed individual who is resident in Belize, there shall be allowed a basic deduction in the following amounts:(a)
in the case of an employed individual whose total income in a basis year from
all sources does not exceed twenty six thousand dollars.................$25,600.00;(b)
in the case of all other employed individuals.......................$19,600.00.”
3. The Ninth Schedule to the principal Act is hereby amended by the addition of the following new item after item (n):
Receipts of entities providing electricity supply services ............................6.5%.”
4. This Act come into force as follows:-(i)
the amendment made by section 2 of this Act to section 16 of the principal Act shall take effect from the 1st day of January 2010;
the amendment made by section 3 of this Act to the Ninth Schedule to the principal Act shall take effect from the 1st day of April, 2010.
Printed in Belize by the Government Printer