Belize's tax system is attractive to certain international businesses, but its corporate tax framework is not based on a single low rate. The oil industry is generally subject to a 25% income tax; most other businesses are subject to business tax levied on gross revenue, with rates varying by industry and type of income—for example, general trading is typically taxed at 1.75%, professional services at 6%, and real estate-related income at 3%. Belize does not impose capital gains tax and applies a General Sales Tax (GST) at a rate of 12.5%. Regarding withholding tax, dividends paid to residents are generally subject to 15%, and interest paid to non-resident lenders is generally subject to 15%; a 25% rate generally applies to management fees, technical service fees, and similar payments made to non-residents, rather than a flat 25% rate on all royalties. In terms of corporate compliance, Belizean companies are generally required to maintain a registered agent and a registered office.