Profits and dividends

Notwithstanding anything contained in any other enactment– (a) no income tax, or any other direct or indirect tax or impost, shall be levied in Belize upon the transactions, contracts, securities or other dealings or upon profits or gains of a registered insurer, or upon any premiums earned by a registered insurer, or money paid to an insured by a registered insurer, in respect of any international insurance business written in or from within Belize; and (b) no income tax, or any other direct or indirect tax or impost, shall be levied in Belize in respect of any dividends or earnings attributable to the shares or securities of a registered insurer, or upon any premiums paid to a registered insurer or money paid to an insured by a registered insurer. 40 (2) Without prejudice to the generality of the exemptions granted to a registered insurer by the provisions of this section, sections 34 and 35, such exemptions shall– (a) be evidenced by a certificate issued at no extra charge in the name of the Minister, (b) not apply so as to exempt a registered insurer from increases in fees; (c) not apply so as to exempt a registered insurer from the prescribed annual fee.