Global Daily Tax News, Belize Launches Amnesty For MSMEs, (Sep 23, 2025)

Belize has announced the launch of the Fiscal Incentive MSME Business Tax Amnesty Program.

The Government is to offer a one-year business tax exemption for micro-, small-, and medium-sized enterprises (MSMEs) who regularize their affairs with the tax authority.

The amnesty scheme is intended to encourage smaller businesses to voluntarily comply with their obligations. It was launched in response to the Government's concerns regarding the scale of the grey economy.

The Government said: "MSMEs are considered the backbone of the global economy, driving innovation, job creation, and economic growth. In Belize, they employ a substantial number of the total workforce and contribute significantly to GDP growth. As a result, they play an important role in reducing poverty, narrowing inequalities, and creating employment. However, many MSME businesses struggle with low productivity and operate in the informal economy, making it difficult for them to access resources such as financing, regional grants, and technical assistance and opportunities such as other larger markets."

"When MSMEs formalize, they contribute a noteworthy percentage of national income in developing countries. This percentage can rise significantly when more informal MSMEs are included, making their development a high priority for many governments around the world, including Belize."

The amnesty covers businesses that fall within the definition of MSMEs, those currently not registered with the Belize Tax Service, and those that registered with the BTS from the year 2023 to date.

Companies engaged in the following activities are ineligible: gaming and lotteries; real estate; retail or wholesale importers not considered a micro enterprise; professional and consultation services that are not global digital services; financial or money-lending services; importers, retailers, or wholesalers of petroleum-based products; rental of real estate or goods not including hotels and auto-repair services; production or sale of any service or good prohibited by any law; entertainment promotion services, excluding promotion of local artists and entertainers; and auto rental services.

Applications to participate in the amnesty must be submitted by October 29, 2025.