Income Tax (Partial Remission of Arrears) Act

Link to law: http://www.belizelaw.org/web/lawadmin/PDF%20files/cap057.pdf
Published: 2000

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

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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

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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.
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