Previous Thread
Next Thread
Print Thread
GOB Gets Ready to Go Nuclear on Ashcroft's Empire #308458
11/01/08 09:43 PM
11/01/08 09:43 PM
Joined: Oct 1999
Posts: 72,026
oregon, spr
Marty Offline OP

Marty  Offline OP
The hostilities between the Michael Ashcroft business empire and the government of Belize continue to rage in court, but now government is one-upping the British billionaire, by taking its fight to the legislature.

7NEWS has been reliably informed by sources in the Ministry of Finance that government plans to introduce legislation to increase the business tax on phone companies from 19% to something in the vicinity of 25%. Sources tell us that the final figure is still being discussed by government’s decision makers, but it will be around that number. That’s 25% of gross earnings and would represent an increase of about $10 million in the tax that Telemedia has to pay annually.

And if that wasn’t enough to rankle Ashcroft, sources also tell us that government plans to increase the tax on public investment companies – which is a special type of international business company. Special because it gives lavish tax concessions to companies which have that status. And Ashcroft’s PIC, which is believed to be the corporate cocoon for the Belize Bank and other related operations are presently taxed at 8%. Government also plans to increase that tax, possibly to bring it in line with or close to the 15% which other banks pay.

And while the decision has been made, the legislation which, as we said is still being finalized, goes to the National Assembly sometime in November. We note that it would not just be for BTL and the Belize Bank, but also for all other banks which have PIC status – that includes the Atlantic Bank, and for the business tax, all telecommunication companies.

It is a decisive and aggressive move by government, and as the days ahead will tell, Lord Ashcroft is expected to react in kind.

Re: GOB Gets Ready to Go Nuclear on Ashcroft's Empire [Re: Marty] #308478
11/02/08 08:05 AM
11/02/08 08:05 AM
Joined: Oct 2003
Posts: 492
TExarkana, USA
catdance62 Offline
catdance62  Offline
I am currently reading "Last Flight of the Scarlet Macaw" and there is a part that details Ashcroft's holdings in Belize. Very interesting.

Last edited by catdance62; 11/02/08 08:05 AM.

Portofino Resort- Now with a new BEACH BAR!!
Click for excellent scuba lessons with Elbert Greer!
Chaa Creek is an award-winning luxury Belize Resort, rated as one of the worlds best Eco Lodges. We are a pioneer in adventure travel to Belize since 1981!
Maruba Beach Klub and Spa is the premiere Secret Beach spa and restaurant located on the crystal blue waters of the Caribbean Sea at the center of Secret Beach, Belize
First Class Accommodations for the Budget Traveler
First Class Accommodations for the Budget Traveler

Things to do

Daily News
Daily Weather

Classified Ads
San Pedro Sun
Ambergris Today
SP Town Council
Channel 7
Channel 5
Love FM
The Reporter
TV Newscasts
Radio Stations

Click for our
Search thousands of Belizean-only websites

Event Guides
Event Calendar
Specials & Events
Things to Do
iTravel Belize
Paradise Theater
San Pedro Fun Finder
Paradise Guy Event Calendar
Cayo Event Calendar

San Pedro Scoop!
Tia Chocolate
My Beautiful Belize
I-Travel Belize
Belize Adventure
Belize Hub
Romantic Travel
Belize Happy Adventures
Conch Creative
Caribbean Culture & Lifestyle
More Blogs...
Search thousands of Belizean-only websites
White Sands Dive Shop - 5 Star PADI Dive Facility - Daily diving, SCUBA instruction and Snorkeling
Caribbean Inspired All Natural Condiments & Spice Blends, Over 100 are Gluten Free!
We manage a variety of homes, apartments, condos and commercial properties here on Ambergris Caye. Our minimum lease on ALL properties is six months.
Click for Ian Anderson's Caves Branch, Welcome to a World of Adventure
Lil Alphonse has snorkel equipment to fit anyone as well as Marine Park Tickets and flotation devices to assist those not as experienced.
Coastal Xpress offers a daily scheduled ferry run to most resorts, restaurants and private piers on the island of Anbergris Caye. We also offer  private and charter water taxi service.
1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31
Cayo Espanto
Click for Cayo Espanto, and have your own private island
More Links
Click for exciting and adventurous tours of Belize with Katie Valk!
ShoutChat Box
Who's Online Now
0 registered members (), 182 guests, and 0 spiders.
Key: Admin, Global Mod, Mod
Forum Statistics
Most Online4,377
Dec 15th, 2020 HELP! Visitor Center Goods & Services San Pedro Town Message Board Lodging Diving Fishing Things to Do History Maps Phonebook Belize Business Directory Picture of the Day

The opinions and views expressed on this board are the subjective opinions of Ambergris Caye Message Board members
and not of the Ambergris Caye Message Board its affiliates, or its employees.

Powered by UBB.threads™ PHP Forum Software 7.7.1