Exemption of Income and Business Tax

(1) The profits of the Corporation shall not be liable to any taxes. (2) Dividends paid on shares in the Corporation shall not be taken into account in ascertaining the chargeable income of shareholders under the Income and Business Tax Act, Cap. 55. (3) Subsection (2) of this section, shall not apply to any shareholder who would become liable under the laws of his country to pay income tax on dividends or shares in the Corporation as a result of those dividends not being subject to income tax in Belize. 30