[Repealed]

[Repealed]. Income and Business Tax 53 SCHEDULE (Rule 2) FORM NO. 1 File No. District No. of Assessments INCOME TAX YEAR OF ASSESSMENT ENDING 31ST DECEMBER, 20 _________. RETURN OF INCOME AND CLAIM FOR ALLOWANCES (Income and Business Tax Act) To ......................................... of ............................. In pursuance of the provisions of the Income and Business Tax Act you are required to make on this form a true and correct return of all the sources of your income and of the amount from each source for the year ended on the ........... day of ........................., 20....... . The declaration on page 3 must be signed and the form sent back to me at the Income Tax Office, on or before the 31st March, 20 ....... . Dated this day of 20 Assessor of Income Tax NOTE: A person in the districts (except Belize) may address this return to the Assessor of the District where such person resides. 54 Income and Business Tax To enable your assessment for the year to be made correctly, you should also give particulars of the allowances and deductions you claim. If you require assistance in filling up this form, application should be made to the Income Tax Office, Belize City, or to the Assessor of the District where such person resides. If further information is desired on any particular point, you should apply to the Assessor, Income Tax Office, Belize City. NOTE SPECIALLY 1. Any person required to make a Return who wilfully fails duly to furnish the same is liable to a penalty of $500 and in default of payment to imprisonment for a term not exceeding six months, and/or double the amount of income tax and surtax with which he ought to be charged. 2. Any person knowingly making any false statement or false representations, in any Income Tax Return, or keeping and preparing false accounts of any profits, chargeable to Income Tax, shall be liable to a fine not exceeding $500 and treble the amount of tax with which he ought to be charged or to imprisonment for a term not exceeding six months. 3. Any person aiding or abetting in such offences shall be liable to a fine not exceeding five hundred dollars or to imprisonment for a term not exceeding six months. PERSONS LIABLE TO ASSESSMENT TO INCOME TAX (1) All persons (which term includes all Companies, Corporations, Societies, and other Bodies of persons, whether Corporate or not Corporate), are liable to assessment on their total incomes derived or accruing from all sources both in and out of Belize in respect ofIncome and Business Tax 55 (a) trade, business, profession or vocation; (b) dividends, interest or discounts; (c) employment, pension charge or annuity; and (d) rents, royalties, premiums and any other profits arising from property. NON-RESIDENTS IN BELIZE (2) The income arising or accruing to any person not residing in Belize, must be returned under the respective “Heads” on page 2 hereof and the name of an Agent or other representative in Belize of such non-resident person given. (3) In the case of a Firm carrying on Business in Belize, the proprietors of which, or partners therein, are resident out of Belize, the full profits and shares of the profits of such non- resident proprietors or partners are returnable by the Attorney, Agent or representative of such non-resident proprietors or partners 56 Income and Business Tax SECTION I DECLARATION AS TO PARTNERS IN A FIRM AND THE DIVISION OF THE PARTNERSHIP PROFITS Particulars of the share of each partner in the partnership profits of the firm as entered on Page 2 including interest on capital and salaries of partners. Names Residence State whether Basis of Distribution of the Partnership Amount of of partners of Partners personality acting in the as at Partnership Profits Date Precedent Acting Partner Income and Business Tax 57 SECTION 2 DECLARATION TO BE MADE BY A BRITISH SUBJECT OR A PERSON RESIDENT IN BELIZE I DECLARE THAT*I am a resident in Belize *I am a resident of Belize Given under my hand this day of , 20 Signature Residence *Strike out portion not applicable SECTION 3 SOURCES OF INCOME UNDER EACH HEAD If no income is returnable under any of the Heads below, the word “None” should be entered in column (3). In no case must such column be left blank. HEADS OF AMOUNT OF INCOME INCOME (COLUMN 2) (COLUMN 1) (COLUMN 3) A Income accruing, derived or received from Rents, Royalties and other profits arising from property Attach statement showing (1) Situation of the property (2) Name of Tenants (3) Gross Rent (4) Particulars of any 58 Income and Business Tax deduction claimed, e.g., Rates, Taxes, (not including Income Tax) Repairs and Insurance, but not including exhaustion, Wear and Tear. A1 Annual value of land and improvements thereon used by or on behalf of the owner or used rent free by the occupier, for the purpose of residence or enjoyment and not for the purpose of gain or profit, such annual value deemed to be 5% of the capital value $.................................. B Profits derived from the working of Estates or the occupation and cultivation of Land of every description. Net Income as per Statement attached hereto. Value of produce consumed on Farm by taxpayer and his family. ................................................. C Income arising from Dividends, Annuities, Interest on Mortgage Loans deposit or current a/cs. In Banks, etc., (including the Government Savings Bank), Building Society Interest and Bonus, or from any similar source. Attach Statement showing full details of the gross income from each source. N.B.– In the case of dividends derived from Companies registered in Belize the gross amount should be returned and the Certificates attached so that the appropriate relief may be granted. Income and Business Tax 59 C1 Income arising from any source whatsoever outside Belize e.g., Interest, Dividends, Shares, Rents, professions, Securities, etc. D Profits or Gains derived from any Profession, Business, Trade, Adventure or Concern in the Nature of Trade or Vocation. Description ……….. Address ………. Attach Trading, Profit and Loss accounts and Balance Sheet, with an “Adjusting Statement” for Income Tax purposes. E Employment, Office or PensionNature of Employment ……………… Gross Salary or Wages (including Commission, Bonus, Overtime, etc.) …..…………….. Annual value if any quarters, board, residence or other allowance granted in respect of employment whether in money or otherwise. Pensions received from ……………... F Wife's Income from all Sources: Attach a Statement giving details of the Income. G Income from Causal Profits of every description or from sources not enumerated above. Attach a Statement describing the nature of the “Casual Profits” showing 60 Income and Business Tax precisely how the profit returned was arrived at. TOTAL TAX INCOME RETURNED $ SECTION 4 DEDUCT: Exhaustion, Wear and Tear. Attach a Statement showing (1) Subjects on which the allowance is claimed, (2) Values at the commencement of the preceding year, (3) Rate per cent. claimed, (4) What sums if any, are written off in the Proprietor's Accounts. DEDUCT: “ENCUMBRANCES” on above Income, viz Mortgages or Loans Name and full address of person to whom payable On what secured For what precise purpose incurred Amount paid for the preceding year ending 20. .......... (insert date) SECTION 5 Income and Business Tax 61 $.....at .....% .......... .......... .......... $ C $.....at .....% .......... .......... .......... $.....at .....% .......... .......... .......... $.....at .....% .......... .......... .......... Other legal obligations (if any) ....................................................... (State nature and name and address of person to whom payable) N.B.–Voluntary payments or allowances are not deductible NET INCOME $ SECTION 6 CLAIM FOR RELIEF IN RESPECT OF WIFE See note 8 (b) on page 4. Full Christian Names of Wife Date of Marriage 62 Income and Business Tax SECTION 7 CLAIM FOR RELIEF IN RESPECT OF CHILDREN See note 8 (c) on page 4. Place Whether child or stepchild, or Name of each Child Date of Birth of Birth adopted child. Full Christian Surname Day Month Year Names Income and Business Tax 63 SECTION 8 CLAIM FOR RELIEF IN RESPECT OF DEPENDANT RELATIVES See Note 8 (d) on page 4. Name of widowed mother or incapacitated relative Relationship Annual Income of relatives from Date Nature of to you or your wife of Birth Infirmity all sources Surname Christian Names Where resided, if not with you, state amount of your contribution Amount contributed by any other relative, if none, write 'none' 64 Income and Business Tax SECTION 9 CLAIM FOR DEDUCTION IN RESPECT OF LIFE INSURANCE AND WIDOW’S AND ORPHANS’ PENSION FUND See note 8 (e) on page 4. NOTE– No allowance can be claimed for Premiums on the lives of persons other than the Taxpayer or his wife. State whether the Assurance is on the Name of Insurance Company, Amount of Premiums paid during the year ended 31st December, life of “Self” or “Wife” etc. 20 ........ TOTAL $ Income and Business Tax 65 SECTION 10 DECLARATION WHICH MUST BE COMPLETED AND SIGNED I, ........................... of ................................. as the * .......................... declare that to the best of my judgment and belief, this form contains a true and correct return of all sources of income and of the amount derived from each source in respect of the year ended on the ...... day of ........................., 20 ........., computed in accordance with the provisions of the Income and Business Tax Act and that all the particulars, given by me in the claim for allowances for the year are truly and correctly stated. Given under my hand this day of ,20 Signature (A woman should state after her signature whether married, widow, or spinster.) Address *State whether the Return is made– (i) On your behalf, (ii) As the Precedent Partner for the time being of a Firm, (iii) As the Secretary or other responsible Officer of any Corporate Body, (iv) As the Attorney, Agent, Factor, Trustee, Manager, etc. and for whom, (v) As Trustee, Executor, Administrator, etc., and for which Estate, etc. N.B.– In the case of a Firm, the General Declaration above must be made by the Precedent Partner for the time being, or in cases where none of the partners is resident in Belize, by the Attorney, Manager, Agent, etc. 66 Income and Business Tax SECTION 11 NOTES FOR GUIDANCE IN COMPLETING INCOME TAX RETURNS 1. Incomes Liable to Belize Income Tax– (a) Incomes of all persons resident in Belize whether received in Belize or not; (b) Incomes of persons (whether British subjects or not) to the extent that the incomes were derived from sources within Belize or received in Belize. 2. Exemptions include– (a) Incomes of any Statutory or Registered Building or Friendly Society; (b) The official emoluments of Consuls and Vice Consuls; (c) Incomes of Charitable Corporations or Associations where not derived from Trade or business; (d) Wound and Disability pensions granted to members of Her Majesty’s Forces. 3. Year of Assessment. The year of Assessment is the year ending the 31st December and Income Tax is assessed in every year in respect of the income derived or received in the immediately preceding year ending 31st December. The Income Tax Commissioners may, however, permit any person to be assessed in respect of income Income and Business Tax 67 derived or received during a period of twelve months ending at any date within the preceding year. 4. Responsibility for Rendering Returns and of Agents, Trustees, Executors, Etc. (1) Every person liable to Income Tax is required to notify the Director General within three months of the commencement of the year of Assessment. (2) A Trustee, Guardian, Attorney, Agent, etc., or other representative is answerable for the doing of all such acts as are required by the Income and Business Tax Act for the assessment of any person for whom he acts and for the payment of Income Tax chargeable on him in respect of the Income of an incapacitated or non-resident person. (3) A person not resident in Belize is chargeable in the name of his Trustee, Attorney, Agent, Manager, etc., whether such Trustee, etc., has the receipt of the profits or gains or not. (4) The Manager or other principal officer of a Corporate Body of persons is answerable for doing all acts required by the Income and Business Tax Act for the assessment of the Corporate Body of persons and the payment of the tax. (5) The personal representative of a deceased person is chargeable with Income Tax for which the deceased person would have been assessable but for his death, and is answerable for doing all such acts as are required by the Income and Business Tax Act for the assessment of the tax. (6) Every person answerable in a representative capacity under the Income Tax Act for the payment of Income Tax may retain out of money coming into his hands in such capacity so much thereof as shall be sufficient to pay such Income Tax. 5. Wife’s Income. 68 Income and Business Tax The income of a married woman living with her husband is deemed to be his income for the purposes of the Income and Business Tax Act. 6. Employment. Income from any employment includes the estimated annual value of any quarters, board or residence, or any other allowance granted in respect of any employment, whether in money or otherwise. 7. Deductions Allowable in Computing Income. (1) The expenses which may be deducted in computing income are broadly speaking expenses, not being capital expenditure, which are necessarily incurred for the purpose of acquiring the income. (2) The deductions allowable include– (a) sums expended for repairs of premises, plant and machinery employed in acquiring the income. (b) debts proved to be bad and doubtful debts to the extent they are estimated to be bad. (c) Interest paid on any loan which is employed in acquiring the income on which Income Tax is payable. Where such interest is paid to a person not resident in Belize Income Tax at the rate of 25% is deductible by the payer and an account of the tax so deducted must be rendered to the Director General of Income Tax. (d) rent of business premises and rates and taxes of real estate. Income and Business Tax 69 (e) a reasonable amount for exhaustion, wear and tear of property, including plant and machinery used by the owner thereof for the purpose of acquiring income from a trade business, profession or vocation carried on by him (a separate claim must be made). (f) so much of any amount expended in replacing obsolete plant or machinery as is equivalent to the cost of the plant or machinery replaced after deducting (a) the total depreciation which has occurred since the plant was purchased, and (b) any sum realised by its sale (a separate claim must be made). 8. Deductions Which Are Not Allowed in Computing Income. (1) Any sums paid as salaries or drawing of the proprietors or interest on their capital. Any expenses of maintenance of the persons assessable or any personal living or family expenses. (2) Any sums employed as capital or any capital withdrawn. (3) Any sums expended on improvement or written off for depreciation of land. (4) Examples of the expenditure which is not allowable are– (a) The cost of bringing into cultivation lands previously in a ruinate or uncultivated condition; (b) Sums written off profits in respect of goodwill or repayment of borrowed capital; (c) The cost of any produce or other goods consumed by the proprietor or his family; 70 Income and Business Tax (d) The rent or any other expenses of any house occupied for residential purposes by the person assessed. Where used partly for business purposes a proportion of the total expenses is disallowed; (e) The wages of upkeep of domestic servants (including grooms, chauffeurs, etc.), employed for the personal service of the taxpayer or his family, and the upkeep of motor cars used for private purposes. 9. Reliefs That May Be Claimed. (a) Any individual who is resident in Belize or who in a British subject is allowed a deduction of $500 in arriving at the income chargeable to tax; (b) A deduction of $300 may be claimed by an individual resident in Belize or who is a British subject whose wife was living with or wholly maintained by him during the year immediately preceding the year of assessment; (c) A deduction of $200 for each child, step-child or an adopted child under 16 at the commencement of the basis year or if over 16 years was at a university, school, etc; (d) A deduction of $125 for each dependent relative maintained during the year incapacitated by age or infirmity from maintaining himself or being yours or your wife’s widowed mother whether incapacitated or not; (e) A deduction may be claimed in respect of the annual amount of premiums paid on insurance Income and Business Tax 71 made in any Insurance Company on the life of the taxpayer or his wife. The deduction allowable is, however, restricted to $1,200 or one-sixth of the chargeable income, before making certain deductions, whichever may be less; (f) A deduction of one-tenth of the income with a maximum of $500 is allowed from earned income; (g) Where both Belize Income Tax and United Kingdom Income Tax are paid on the same income for the same year of assessment; (h) Where a loss is sustained in any business, trade, profession or vocation carried on in Belize, the loss may be set against other income from such sources and where the other income from these sources is insufficient to absorb the loss it may be set against other income arising from business trade, profession or vocation, or the ownership or occupation of land for the succeeding five years. Provided that in no case is a set off allowed which will reduce the tax payable for any year of assessment to less than one-half the tax otherwise payable; (i) Gifts to the value of $500 or over for ecclesiastical, charitable, educational or cultural purposes. The deduction however is restricted to one-sixth of the chargeable income before making certain deductions. 72 Income and Business Tax FORM NO. 2 EMPLOYERS INCOME TAX Notice to employer to deliver statement as to persons employed by him. (Income and business tax act) To of Take notice that you are hereby required to deliver to me, within ............days after the date of the service of this notice upon you, a full and correct statement, as required by section thirty-four of the Income and Business Tax Act of the names and places of abode of, and salary or wages paid to, all the persons employed by you. Dated this day of , 20 ……………………………………. Assessor of Income Tax N.B. Section seven of the Tax Administration and Procedure Act is as follows7.–(1) A person shall not use or disclose any information obtained under a tax law other than for the purposes of this Act. (2) A person commits an offence if that person uses or discloses any information obtained under a tax law other than for the purposes of this Act or the administration of any other tax administered by the Director General. Income and Business Tax 73 (3) Notwithstanding subsection (1), a person does not commit an offence if he uses or disclose the information– (a) with the consent of the person from whom the information is obtained; or (b) for the purpose of legal proceedings arising out of the administration of this Act or other tax law. (4) It shall be lawful to exchange information or documents obtained under this Act with any other Government Department if authorised, in writing, by the Director General. (5) A person who commits an offence under this section is liable on summary conviction to– (a) a fine of not less than five thousand dollars and not exceeding ten thousand dollars; (b) imprisonment for a term not exceeding one year; or (C) TO BOTH A FINE AND TERM OF IMPRISONMENT. 74 Income and Business Tax FORM NO. 2 (REVERSE SIDE) Name & Address (Surname preceding Salary Commission Bonus Gifts, Board, Living, Total or wages Etc. Free Quarters, Lighting, and in alphabetical order) etc. I certify that the above return is true and correct. Dated and signed at .................. this .......... day of ..............................., 20 .... . Income and Business Tax 75 FORM NO. 3 TRUSTEES, ATTORNEYS-AT-LAW, ETC. INCOME TAX Year of Assessment ending 31st December, 20 ......... . Return to be made of the Income of the preceding year ended 31st December, 20 ...... . To of Under the provisions of section 27 of the Income and Business Tax Act the Director General of Income Tax hereby gives you notice that the information as detailed under the several headings in the form overleaf is required to be furnished by you. The form must be completed and returned to this office on or before the …………… day of ……………… 20………. . Assessor of Income Tax Dated this day of , 20 Assessor of Income Tax Income Tax Office, Belize City, Name of person or firm making Return. Address District Character of Business76 Income and Business Tax Trustees, LIST OF EVERY PERSON HAVING MONEY, OR VALUE BEING INCOME OF OR Address Agents BELONGING TO ANY OTHER PERSON, CHARGEABLE TO INCOME TAX AND etc. OF WHICH I HAVE THE CONTROL, OR AM, IN WHATEVER CAPACITY, IN of Persons who are not of full age or are under incapacity or who are not Resident in Belize and whose Income is Chargeable on their Agents, etc., and capacity Names of Trsutees. in which they act Trustees, Agents, Attorenys, or Representatives. in reciept of Capacity in which I am the Income Amount and Description of Income Address RECEIPT, VIZ: FORM NO.3 each person Name of which I have Capacity in the control the income recpeit of or am in Persons Resident in Belize and not under incapacity who are of full age– including married womenDescription of Amount and Income falling within the above Description. Address Name of each person Income and Business Tax 77 FORM NO. 4 CONTRACTORS, ETC. INCOME TAX Year of Assessment ending 31st December, 20 ......... . To of Under the provisions of section 22 or 23 of the Tax Administration and Procedure Act the Director General of Belize Tax Service hereby gives you notice that the information as detailed under the several headings in the form overleaf is required to be furnished by you. The form must be completed and returned to this office on or before the ………… day of ……………….., 20……… . Dated this day of ,20 ………………………………….. Director General of Belize Tax Services Income Tax Office, Belize City, Name of person or firm making Return. Address District Character of Business: 78 Income and Business Tax Value of draft merchandise details as far as possible) trucks, and year (Give contractor during the animals, wagons, supplied stores Contractor measuring wood borne by Portion I hereby certify that the above-mentioned return is true and correct in every particular. CHICLE, RUBBER, MAHOGANY, CEDAR, LOGWOOD, ROSEWOOD, PINE, Cost of Total cost 31st December 20______ Dr Cr Amount due to or by contractor on 1st January 20_______ Dr Cr credits for deliveries (Reverse side) FORM NO.4 Total deliveries weight or number) Total (feet, Advances 20______ whether chicle, Product, state coconuts or if wood kind of wood Address preceding and in alphabetical Contractor (Surname Name of order) Income and Business Tax 79 FORM NO. 5 COCONUTS, ETC., AND OTHER PRODUCE INCOME TAX NOTICE REQUIRING A RETURN TO BE MADE (Income and Business Tax Act– Section 31 (3)) To of Take notice that you are required to make and deliver to the Director General of Belize Tax Service at the Income Tax Office, Belize City, within ............. days after the date of the service of this notice on you a Return of your income in respect of the year ended on the 31st day of December, 20 ......... . Dated this day of , 20 ……………………………………. Director General of Belize Tax Service N.B. (1) All Returns shall be made on the prescribed forms which may be obtained at the Income Tax Office, Belize City, or in the districts. (2) A person in the districts (except Belize) may address his return to the Director General care of the District Office of the District where such person resides and deliver the same at the Treasury Office in that District. (3) Duplicate to be returned to the Assessor, after the affidavit of service has been sworn to. 80 Income and Business Tax FORM NO. 5 INCOME TAX NOTICE REQUIRING A RETURN TO BE MADE (Income and Business Tax Act, Section 31(3)) To of Take notice that you are required to make and deliver to the Director General of Belize Tax Service at the Income Tax Office, Belize City, within ............. days after the date of the service of this notice on you a Return of your income in respect of the year ended on the 31st day of December, 20 ............ . Dated this day of , 20 ………………………………. Director General of Belize Tax Service N.B. (1) All Returns shall be made on the prescribed forms which may be obtained at the Income Tax Office, Belize City, or in the districts. (2) A person in the districts (except Belize) may address his return to the Director General of Belize Tax Service care of District Office of the District where such person resides and deliver the same at the Treasury Office in that District. Income and Business Tax 81 AFFIDAVIT OF SERVICE I, ……................................…… of ………...............................................….. make oath and say that I served a true copy of the foregoing notice on ............ of ................................,on the ...….. day of ...................., 20 .........., by delivering the same to him personally, or * by leaving the same at his place of abode at …………......................... with one ……......…. . Sworn to before me this day of ,20 Deponent J.P. *Strike out the description not applicable to the manner in which the service was affected. N.B. The person serving the notice should explain its purport to the person to whom it is delivered. 82 Income and Business Tax FORM NO. 6 [Notice of Assessment] INCOME TAX NOTICE OF ASSESSMENT UNDER SECTION 38 OF THE INCOME AND BUSINESS TAX ACT INCOME TAX YEAR 20 _____ Head Source of Income Amount Allowances Amount A Profits from Trade, Profession or Business Resident or British Subject B Employment or Office Wife C Annual Value of Residence Children D Dividends, Interest or Discounts Dependent Relative D1 Dividends, Interest, Discounts, etc. arising outside the Territory Earned Income Income and Business Tax 83 E Pension, Charge or Annuity Life Assurance, etc. F Profits from Property, Rents Royalties, Premiums Wear & Tear G Wife's Income Trade Loss H Casual Profit Balancing Allowances TOTAL INCOME ASSESSED TOTAL INCOME ASSESSED Chargeable Income Income Tax Payable Surtax Payable Total Income Assessed Income Tax Chargeable Chargeable Income Less Allowances Less Relief under S.22 of the IBTA. Less 8000 00 Less Tax Credit Excess Chargeable to Chargeable Income Surtax Tax Due Surtax Due 84 Income and Business Tax NOTICE TO PAY The amount of tax due by you is shown at the bottom of this page in the right-hand corner. It should be paid WITHIN THIRTY DAYS from the date of this notice. Alternatively, you may make arrangements to pay your tax by instalments unless your employer has been instructed to recover it from your salary or wages. This should be done before the expiry of the thirty days mentioned above. If the tax becomes overdue a surcharge of EIGHT PER CENT will be added to the unpaid balance of your account. Tax is payable at the Income Tax Office, Belize City or at the District Office of the District in which you reside. Charge- Income Date File List Asst . No. Balance Tax Surtax TOTAL able Income No. No. b/f AMOUNT DUE Income and Business Tax 85 FORM NO. 6 (REVERSE SIDE) RIGHT OF APPEAL If you dispute the attached assessment you may apply to the Director General of Belize Tax Service by notice in writing stating the precise grounds on which you dispute the assessment to review and revise the assessment. Such notice must be sent to the Director General of Belize Tax Service within 15 days of the service on you of the notice of assessment. If you have disputed an assessment but are unable to agree with the Director General of Belize Tax Service as to the amount at which you are liable to be assessed, you will be informed in writing by the Director General of Belize Tax Service of the amount at which you have been assessed. You may within 15 days of the service on you of the Director General of Belize Tax Service’s written notification, apply to the Income Tax Appeal Board to hear and determine your objection and shall set forth as the grounds of your objection the grounds stated in writing in your notice to the Director General of Belize Tax Service. If due to sickness, absence from the country or other reasonable cause you are unable within the appropriate time to make an application to the Commissioner for review or to apply to the Income Tax Appeal Board requesting it to hear and determine your objection you may apply to the Board to extend the time and the Board may grant such extension as it thinks reasonable. ………………………..……………………. Director General of Belize Tax Service 86 Income and Business Tax RATES OF INCOME TAX AND SURTAX INCOME TAX Companies (percentage of chargeable income). 40% Other persons (per $ of Chargeable income) Minimum tax 50 cents) First $500 5% Next $500 6% Next $500 8% Next $500 10% Next $500 12% Next $500 15% Next $500 17 ½% Next $1,000 20% Next $4,500 25% Next $10,000 30% Next $6,000 40% Remainder 45% Income and Business Tax 87 SURTAX Persons other than companies (per $ of Chargeable income) First $8,000 Nil Next $2,000 10% Next $2,000 15% Next $5,000 20% Remainder 25% 88 Income and Business Tax FORM NO. 7 (Fire Insurance) INCOME TAX (Income and Business Tax Act) I, …..................................................... of ……..................................................……….. as the ……....................……. do hereby declare that the statement or statements herein, or herein referred to and appended hereto, is a full, just and true Return of the income of the ................................................................ in respect of the year ended on the ............ day of ......................., 20 ..........., estimated to the best of my knowledge and belief, according to the directions and Rules of the said Act. Given under my hand this day of ,20 Witness Income and Business Tax 89 FORM NO. 7 (REVERSE SIDE) FIRE INSURANCE ................................ Agency Net losses by Fire outstanding Net loss by fire i.e., Less Reinsuranc and expense Re- Insurance Premiums Gross Premiums Net Premiums e s charged and Interest in account etc. received Commission Expenses i.e. Less Estimated or collected in Belize Amount Re- insuran ce 90 Income and Business Tax RECAPITULATION Net Premium………………… Commission……………………. Premium Reserve (for unexpired risk) Expenses……………………… Losses by Fire charged in account……………………… 20…… %....... % on Net Premiums for Head Office……………………… Expenses…………………… Premium Reserve (for unexpired red risks) 20……… %........... Income and Business Tax 91 FORM NO. 8 Demand note DEMAND FOR PAYMENT This demand note is served on you for payment of the under- mentioned tax which was payable on or before ........................... 20 ............ . Please take note that if the total amount due is not paid WITHIN THIRTY DAYS of the service of this demand you will be taken to court to recover the same. The amount due should be remitted by crossed cheque or money order accompanied by this demand note. It may also be paid personally at the Income Tax Office, Belize City, or at the District Office of the District in which you reside during normal office hours. Director General and Chief Collector of Income Tax List No. A s s t . Balance Chargeable Income Surtax TOTAL N o . b/f Income Tax DUE