This is a major change in the way business will be done in Belize, and also carries serious penalties for non-compliance. Please get informed. There will be limited seating so register early.

General Sales Tax (GST) Training Seminar

Sponsored by Ambergris Caye Chamber of Commerce, and will be Conducted by D. Michael Fox, CPA, CFE, FCPA, CBM

June 1, 2006, Sunbreeze Hotel Conference Room, San Pedro

1:30 – 4:30 PM

BZ$25.00/person Registration Fee for Chamber Members

BZ$50/person Registration Fee for Non-Members

Anyone joining the Chamber or paying their 2006 membership fees at the door will get the discounted price.

There will be limited seating. Please email dolphin@btl.net to register.

Send: Name(s) of Attendees

TOPICS:

How GST Works (VAT is back)

To Raise or Not to Raise Prices July 1

The $75,000 Exemption and Other Exemptions

Impact on Hotels

Sales of rooms and related cost treatment
Restaurant/bar sales (or rental revenue) and related cost treatment
Other revenue sources and related cost treatment
General, administrative, selling, and property maintenance cost treatment
Pricing packages
GST collected with advance deposits
Impact on Real Estate

Real estate agents
Commercial rental property
Residential rental property
Sales of new residential premises
Sales of used residential premises
Sales of condominiums and cooperatives
Sales of undeveloped land parcels
Construction contract payments
Sales of timeshare and fractional interests
Maintenance fees for condominium and cooperative unit owners’ associations
July 1 Transitional Provisions

Construction contracts in progress
Purchase and sale agreements in progress
Billing, delivery, payment cutoffs at June 30
Mathematics, Recordkeeping, Accounting

Special Provisions

GST on capital asset purchases
GST refunds to tourists and visitors