Three dollar increase in departure tax

And from the convention floor to the airport, there was no official release, but News Five has confirmed that effective October first, the departure tax at border points and the airport was increased. The fee jumped three dollars to settle at thirty-five-fifty U.S. for international visitors. When you factor the additional three-seventy-five fee for PACT, the total departure charge comes to thirty-nine twenty-five U.S. The silver lining is that the rise in prices will not affect local visitors. When we contacted the Ministry of Tourism to find out what prompted the increase, CE.O. Michael Singh reported that the motive was the million dollar judgment in favour of NEWCO. Viewers will recall that in June international arbitrators sided with the company and against G.O.B., awarding NEWCO two point six million dollars plus interest and court costs for terminating a thirty year airport management contract for the P.G.I.A. In 2005, three years after the agreement was made, the Musa administration cancelled the contract and awarded a similar agreement to the Belize Airport Concession Company. When news of the judgment was delivered, Prime Minister Dean Barrow said he would ask B.A.C.C. to contribute to the payments. According to Singh, government did approach the concession company and the parties worked out an agreement that B.A.C.C. would provide lump sum payments to help cover the judgment costs and that it would get the funds back in the long run through the departure tax increase. Two of the three dollar hike will go to B.A.C.C., while the Belize Airport Authority will get the other dollar for airport improvement. The intention is to reduce the tax back to its original figure once the fine has been paid off but that will depend on the state of the market at that time. Singh says they have finalized an agreement with American Airlines and in the near future the taxes will be added to ticket prices instead of being collected at the airport.