CAP. 57 INCOME TAX (PARTIAL REMISSION OF ARREARS) ACT BELIZE
INCOME TAX (PARTIAL
REMISSION OF ARREARS)ACT
CHAPTER 57
REVISED EDITION 2000
SHOWING THE LAW AS AT 31ST DECEMBER, 2000.
This is a revised edition of the law, prepared by the Law Revision Commissioner
under the authority of the Law Revision Act, Chapter 3 of the Laws of Belize,
Revised Edition 1980 - 1990.
This edition contains a consolidation of the following laws - Page
ARRANGEMENT OF SECTIONS 3
INCOME TAX (PARTIAL
REMISSION OF ARREARS) ACT 3 Amendments in force as at 31st December, 2000.
BELIZE
INCOME TAX (PARTIAL
REMISSION OF ARREARS)ACT
CHAPTER 57
REVISED EDITION 2000
SHOWING THE LAW AS AT 31ST DECEMBER, 2000.
This is a revised edition of the law, prepared by the Law Revision Commissioner
under the authority of the Law Revision Act, Chapter 3 of the Laws of Belize,
Revised Edition 1980 - 1990.
This edition contains a consolidation of the following laws - Page
ARRANGEMENT OF SECTIONS 3
INCOME TAX (PARTIAL
REMISSION OF ARREARS) ACT 3 Amendments in force as at 31st December, 2000.
THE SUBSTANTIVE LAWS OF BELIZE REVISED EDITION 2000
Printed by the Government Printer
No. 1 Power Lane,
Belmopan, by the authority of
the Government of Belize.
Income Tax (Partial Remission of Arrears) [CAP. 57 3
[ ]
CHAPTER 57
INCOME TAX (PARTIAL REMISSION OF ARREARS)
ARRANGEMENT OF SECTIONS
1. Short title.
2. Interpretation.
3. Agreement for partial remission of income tax.
4. Consequences of breach of Agreement by taxpayer.
5. Discharge by the Commissioner.
6. Duration.
CHAPTER 57
INCOME TAX (PARTIAL REMISSION OF ARREARS)
[1st April, 1999]
1. This Act may be cited as the Income Tax (Partial Remission of
Arrears) Act.
2. (1) In this Act, unless the context otherwise requires:-
“Agreement” means the agreement signed between the Commissioner and
the taxpayer pursuant to section 3 of this Act;
Short title.
Interpretation.
6 of 1999.
Income Tax (Partial Remission of Arreas)CAP. 57]
THE SUBSTANTIVE LAWS OF BELIZE REVISED EDITION 2000
Printed by the Government Printer
No. 1 Power Lane,
Belmopan, by the authority of
the Government of Belize. [ ]
4
“Commissioner” means the Commissioner of Income Tax appointed un-
der the Income and Business Tax Act;
“Minister” means the Minister to whom the responsibility for income tax
is for the time being assigned under section 41 of the Belize Constitu-
tion;
“tax” means the income tax imposed by the Income and Business Tax Act,
and includes surtax and penalties.
(2) Words and expressions used in this Act but not defined herein
shall have the meaning respectively assigned to them in the Income and
Business Tax Act.
3. (1) Notwithstanding anything contained in the lncome and Business
Tax Act, where at the date of commencement of this Act, a person has
any arrears of income tax for the basis year 1996 or for any previous
basis year, the Commissioner may enter into an agreement with such per-
son for the partial remission of such arrears at the rate specified in subsec-
tion (2) and subject to the conditions specified in subsection (3) below.
(2) The rate of remission of tax shall be as follows:-
(a) arrears for the basis
years 1995 and 1996........ 25% of such arrears;
(b) arrears for the basis year
1994 or any previous
basis year......................... 50% of such arrears.
(3) The conditions referred to in subsection (1) above are as fol-
lows:-
CAP. 55.
CAP. 4.
CAP. 55.
CAP. 55.
Agreement for
partial remission of
income tax.
CAP. 55.
THE SUBSTANTIVE LAWS OF BELIZE REVISED EDITION 2000
Printed by the Government Printer
No. 1 Power Lane,
Belmopan, by the authority of
the Government of Belize.
Income Tax (Partial Remission of Arrears) [CAP. 57 5
[ ]
(a) the taxpayer makes a full and unconditional
acknowledgement of the tax payable before
remission;
(b) the balance of the tax (after remission referred to in
subsection (2) above) is paid immediately or within
the following time-frame as arranged with the
Commissioner:-
(i) if the balance of tax
is less than $500,000 .......within six months;
(ii) if the balance of tax is $500,000 or
over.................... within twelve months;
(c) if the balance of the tax is not paid immediately, the
taxpayer gives a promissory note to the Commis-
sioner covering the entire balance due and payable
and setting out the terms of payment.
4. (1) Where a person, after having executed an agreement with the
Commissioner within the meaning of section 3 above, fails to pay the ar-
rears of tax in accordance with such agreement, or otherwise breaches the
agreement, the Commissioner may, after giving fourteen (1 4) days’ written
notice to such person, terminate the agreement, whereupon such person
will no longer enjoy the benefit of the remission granted under section 3
above, and the entire tax due before such remission will become due and
payable immediately and may be recovered in the manner provided in the
Income and Business Tax Act and the regulations made thereunder.
(2) In every case where the agreement is terminated under sub-
section (1) above, any amount paid by a person in pursuance of such
Consequences
of breach of
Agreement by
taxpayer.
CAP. 55.
Income Tax (Partial Remission of Arreas)CAP. 57]
THE SUBSTANTIVE LAWS OF BELIZE REVISED EDITION 2000
Printed by the Government Printer
No. 1 Power Lane,
Belmopan, by the authority of
the Government of Belize. [ ]
6
agreement will be credited towards his income tax liability for the basis
year in question.
5. Any acknowledgement or discharge given by the Commissioner in
pursuance of this Act shall operate as a good and sufficient discharge of
the original tax.
6. (1) This Act shall come into force on the lst day of April, 1999 and
shall remain in force for a period of three months but such period may be
extended by the Minister by Order published in the Gazette.
(2) Notwithstanding the expiry of this Act, any agreement made
during the subsistence of the Act may be enforced after the date of such
expiry as if this Act was still in force.
Discharge by the
Commissioner.
Duration.
