New Filing Rules in Belize
A new regulatory requirement has come into effect in Belize regarding reporting for all International Business Companies (IBCs) and LLCs registered in the country. By August 31, 2025, Financial Statements (FSRs) for the 2023 and 2024 financial years must be filed with the Belize Tax Service Department (BTSD) through the official IRIS portal.
Innovation and the consequences of ignoring it
This innovation applies to absolutely all companies - regardless of their activity, income, or inactivity. Tax returns that could be filed earlier do not exempt from the new obligation to submit financial statements in the FSR format.
What does the FSR form include? Two documents must be submitted without fail: the company's balance sheet and the profit and loss statement.
It is important to remember that late filing of reports entails penalties. Also, even if the company did not conduct any activity or did not receive any income, it is necessary to file a zero report to comply with the law.
Steps to comply with the new requirement
To comply with the new requirement, you must:
- Fill out financial forms for 2023 and 2024 data.
- Send the completed documents to us no later than August 15, 2025 (it is recommended to do this earlier to ensure timely submission).
IT-OFFSHORE offers professional support for the reporting process in Belize, ensuring full compliance with all regulatory requirements and peace of mind for clients. Our specialists are ready to provide support at all stages of preparing and submitting reports through the IRIS portal. We will help you fill out the forms correctly and send documents on time to avoid fines and problems with the regulator.
