iCalculator™ BZ"Informing, Educating, Saving Money and Time in Belize"
BZ Tax 2024

Belize Tax Tables 2024 - Tax Rates and Thresholds in Belize

Rate and Share, Show you Care 😊 Your feedback and support helps us keep this resource FREE for all to use, thank you.
[ 165 Votes ]

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.

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 StatusStandard Deduction
Resident$ 19,600.00
Non-resident$ 0.00
Belize Residents Income Tax Tables in 2024
Personal Income Tax Rates and Thresholds (Annual)
Tax RateTaxable Income Threshold
0%Income from $ 0.000.00to $ 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 RateTaxable Income Threshold
0%Income from $ 0.000.00to $ 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
Social Security (SS) Level 11.88%8.13%10.01%
SS Level 21.88%8.13%10.01%
SS Level 31.88%8.13%10.01%
SS Level 42.46%7.54%10%
SS Level 52.97%7.03%10%
SS Level 63.31%6.69%10%
SS Level 73.55%6.45%10%
SS Level 83.73%6.27%10%
SS Level 93.88%6.12%10%
SS Level 104.04%5.96%10%
SS Level 114.19%5.81%10%
SS Level 124.35%5.65%10%
SS Level 134.5%5.5%10%
Belize Social Security and Payroll Deduction in 2024: Earnings Thresholds for Employers and Employees
Social Security (SS) Level 1n/a$ 70.00n/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$ 500.00n/a$ 500.00n/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.