Miscellaneous taxes

(1) Where any person or entity pays any winnings or prize from or in respect of a lottery or other similar activity, he or it shall, before paying any such winnings or prize, deduct therefrom tax at the rate of fifteen percent of such winnings or prize, and shall forthwith pay over to the Commissioner the amount of tax so deducted, and every such amount shall be a debt owing from him to the Government and shall be recoverable as such management fees, etc. Schedule IX. (2) Every company which pays dividend shall before making such payment deduct therefrom tax at the rate specified in Schedule IX and shall within seven days render an account and remit the amount so deducted to the Commissioner and every such amount shall be a debt owing from the company to the Government and shall be recoverable as such. (3) Every person who pays any management fees, rental of plant or equipment, or charges for technical services and insurance premium to a non-resident shall deduct therefrom tax at the rate of twenty-five percent of such payment and shall forthwith render an account and remit the tax so deducted to the Commissioner and every such amount shall be a debt owing from him to the Government and shall be recoverable as such. (4) Every person who pays interest on loans to a non- resident shall deduct therefrom tax at the rate of fifteen percent of such payment and shall forthwith render an account and remit the tax so deducted to the Commissioner and every such amount shall be a debt owing from him to the Government and shall be recoverable as such, 93 Provided that the tax shall not be deducted if– (a) interest is paid on capital used in the development industries or projects specified by the Minister by Order published in the Gazette; and (b) the Minister is satisfied with the ratio of paid up share capital to loan capital in such industries or projects; and (c) tax is not chargeable on such interest payments in the country of residence of the person to whom such interest is paid, provided that the Minister may waive this requirement if he is satisfied that the loan capital could not be reasonably procured in Belize. Provided further that where there is a difference or dispute as to whether tax is deductible under this section, the decision of the Minister thereon shall be final. (5) Whoever fails or neglects to deduct the amount or to render an account of to pay the amount deducted to the Commissioner as provided in sub-sections (1), (2), (3), and (4) shall be liable to penalties and interest specified under section 57 and 90 of the Tax Administration and Procedure Act, as well as criminal liability under that Act as applicable. CAP. 51. (6) In the case of dividends or interest paid by a PIC Group Company to another PIC Group Company or to the PIC itself, the provisions of sub-sections (2) and (4) of this section shall not apply.