Apart from "Rich Gringos" have a tax hike, don't forget that the Real Estate Agencies that handle business in a legitimate fashion were just hit with a raise from 4% of gross up to a 15% of gross tax.

Belize is experiencing growing pains and although it is never the popular decision, somebody needs to pay for the improvements in the quality of life, health, education and infrastruture of this nation.

Granted, Belize is not a "cheap" destination and it definitely is not a cheap place to live. But I'll tell you one thing, you couldn't PAY me to live anywhere other than here!

We gripe, but life will move on.

Perhaps folks should realize that if they want to own a little bit of paradise they need to pay their debt to our society too!

Environmental taxes, income taxes, import duties, stamp duties - these are all due and payable in most other nations in the world, why not Belize?

We must all pay for the priviledge of calling Belize our home - or our home away from home.

Get back to why we really love it here - fresh air, wonderful people, pure rainforest jungles and world class scuba diving.

LIFE IS GOOD!

exactly

AMEN TO THAT! Well said Amanda!

It's like the guy that gets MAD at you when you stop giving him free cigarettes, when he should thank you for all the free smokes recieved in the past.

Hey Garry

That isn't gonna work.

The law now states that when you make the committment to buy real estate, the stamp duties (transfer taxes) are payable at that time.

Typically the agreement for sale contract is recorded as a lien against the title to the property and when the lien is recorded the stamp duties will be due.

If the buyer defaults on an agreement for sale the seller can (in the event that he paid a developer tax) be eligible to file for a tax rebate.

How does this all apply to a condominium since the association owns the land?

Thanks Amanda for the update while I try to stay up on real estate issues things are changing fast here as we are all finding out.

thanks for correcting me and bringing me up to date

regards

Gaz

(Unfortunately I put this post on the other thread with the same title...might as well plunk it here as well...sorry if some points made by other folk are repeated).

A few people might be missing the point here: SIN, it's a 50% increase in tax for many folk which is massive. For Residents, Commonwealth Citizens and Belizean Corporations it's a 300% increase which is just obscene.

Amanda: I don't mind paying taxes but shouldn't we actually get some kind of infrastructure investment in return? I mean, is "just liking it here" reason enough to stay quiet while our wonderful governement rapes and pillages our adopted country. I have viceral objections to sending even more money into the den of theives that is our present government. They will just steal it or use it to promote their pet cruise ship projects. Trust me, they'll find a way to pocket it all and they'll do it while extending a large middle finger to the people of Belize.

Here on A.C. our roads are the running joke of the rest of the country. San Pedro Town is easily the second biggest settlement in Belize (only Belize City is bigger) and yet our roads are by far the worst of any town. If we could get just 20% of the taxes that originate from Ambergris invested back into infrastructure here we could have proper roads, a modern and well equipped primary school, and a well equipped and properly paid police and firefighting force all within 2 years.

But, like any stupid dumb fool I go and pay my taxes anyway. I must like it here too.

One more thing: How do we as realtors tell someone who has already signed a contract that they will have to pay 50%-300% more transfer tax than they thought they were going to pay because the government enacts a tax increase at zero notice?

I haven't researched this increase yet, I'm just typing out of sheer shock at the nerve of Musa, Fonseca and co. Bear with me.

Now I have heard some different news: Belizeans, Caricom citizens, Belizean corporations will pay 7%, all others will pay 12%.

Amazing stuff.

Rumours circulating around Belmopan that Sales Tax will go from 9% to 15%.

Astonishing.

It could change again, but the 7% and 12% were the original numbers, and the 5 and 15% were what was actually approved on Friday. A couple of newspapers initially reported the 7 and 12%, and Channel 5 reported the 5 and 15%, which could be a source of confusion.

--Lan Sluder