Belize Tax Tables 2024 - Tax Rates and Thresholds in Belize
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This page contains the tax table information used for the calculation of tax and payroll deductions in Belize in 2024. These tax tables are used for the tax and payroll calculators published on iCalculator™ BZ, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Belize or would like to add to or suggest amendments to the information herein then please contact us.
2024 Tax Tables [Quick Links]
Related Calculators
Belize Personal Income Tax Tables in 2024
The Income tax rates and personal allowances in Belize are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Belize Tax Calculator 2024.
Belize provides an annual "Standard Deduction" that is deducted from your total income to produce your taxable income in Belize in 2024:
Belize Standard Deduction in 2024| Residence Status | Standard Deduction |
|---|
| Resident | $ 19,600.00 |
| Non-resident | $ 0.00 |
Belize Residents Income Tax Tables in 2024
Personal Income Tax Rates and Thresholds (Annual)| Tax Rate | Taxable Income Threshold |
|---|
| 0% | Income from $ 0.000.00 | to | $ 26,000.00 |
| 25% | Income from $ 26,000.01 | | and above |
Belize Non-residents Income Tax Tables in 2024
Personal Income Tax Rates and Thresholds (Annual)| Tax Rate | Taxable Income Threshold |
|---|
| 0% | Income from $ 0.000.00 | to | $ 26,000.00 |
| 25% | Income from $ 26,000.01 | | and above |
Belize Social Security and Payroll Deduction Rates in 2024
In Belize, the social security system is supported by contributions from both employees and employers. These contributions fund a variety of benefits aimed at providing financial support and security to workers and their families.
Belize Social Security in 2024: Rates for Employers and Employees| Category | Employee | Employer | Total |
|---|
| Social Security (SS) Level 1 | 1.88% | 8.13% | 10.01% |
| SS Level 2 | 1.88% | 8.13% | 10.01% |
| SS Level 3 | 1.88% | 8.13% | 10.01% |
| SS Level 4 | 2.46% | 7.54% | 10% |
| SS Level 5 | 2.97% | 7.03% | 10% |
| SS Level 6 | 3.31% | 6.69% | 10% |
| SS Level 7 | 3.55% | 6.45% | 10% |
| SS Level 8 | 3.73% | 6.27% | 10% |
| SS Level 9 | 3.88% | 6.12% | 10% |
| SS Level 10 | 4.04% | 5.96% | 10% |
| SS Level 11 | 4.19% | 5.81% | 10% |
| SS Level 12 | 4.35% | 5.65% | 10% |
| SS Level 13 | 4.5% | 5.5% | 10% |
Belize Social Security and Payroll Deduction in 2024: Earnings Thresholds for Employers and Employees| Category | Employee | Employer |
|---|
| Min. | Max. | Min. | Max. |
|---|
| Social Security (SS) Level 1 | n/a | $ 70.00 | n/a | $ 70.00 |
| SS Level 2 | $ 70.00 | $ 110.00 | $ 70.00 | $ 110.00 |
| SS Level 3 | $ 110.00 | $ 140.00 | $ 110.00 | $ 140.00 |
| SS Level 4 | $ 140.00 | $ 180.00 | $ 140.00 | $ 180.00 |
| SS Level 5 | $ 180.00 | $ 220.00 | $ 180.00 | $ 220.00 |
| SS Level 6 | $ 220.00 | $ 260.00 | $ 220.00 | $ 260.00 |
| SS Level 7 | $ 260.00 | $ 300.00 | $ 260.00 | $ 300.00 |
| SS Level 8 | $ 300.00 | $ 340.00 | $ 300.00 | $ 340.00 |
| SS Level 9 | $ 340.00 | $ 380.00 | $ 340.00 | $ 380.00 |
| SS Level 10 | $ 380.00 | $ 420.00 | $ 380.00 | $ 420.00 |
| SS Level 11 | $ 420.00 | $ 460.00 | $ 420.00 | $ 460.00 |
| SS Level 12 | $ 460.00 | $ 500.00 | $ 460.00 | $ 500.00 |
| SS Level 13 | $ 500.00 | n/a | $ 500.00 | n/a |
Retirement and Pension Benefits
One of the primary components funded by social security contributions in Belize is the retirement and pension scheme. These funds ensure that employees receive a steady income upon retirement, offering financial stability during their later years.
Sickness and Maternity Benefits
Contributions also provide sickness and maternity benefits. Sickness benefits offer financial support to employees unable to work due to illness, while maternity benefits assist expectant and new mothers with financial support during pregnancy and after childbirth.
Employment Injury Benefits
Another important element is the employment injury benefit, which covers employees who suffer from work-related injuries or illnesses. This benefit includes medical expenses and financial support during the recovery period.
Survivor's Benefits
Survivor's benefits are also a significant aspect of Belize’s social security system. In the event of an employee's death, these benefits provide financial assistance to their dependents or survivors, ensuring continued support for the family.
The social security system in Belize, funded through these payroll deductions, plays a vital role in the social and economic welfare of the workforce. It provides essential protection and support for employees and their families across various life circumstances.
Historic Tax Tables supported for Belize
The following tax tables are supported by iCalculator™ BZ as part of the suite of free tax tools we provide for Belize.