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GST tax

Posted By: Marty

GST tax - 12/07/05 06:01 AM

Many of you have voiced your concerns about the GST and its implications for our industry. The Sales Tax Department has launched a national public awareness campaign designed to answer many of those questions.




I urge to attend these meetings to learn more about the GST and to get your questions answered directly by those who will implement the tax.

Thursday 8/12/05 10:00am Town Hall
Posted By: Kra-Z-K

Re: GST tax - 12/07/05 06:14 AM

thanks. I'll be there. I hear you are in town, true? If so I hope I meet you.
Posted By: Anonymous

Re: GST tax - 12/07/05 09:06 PM

Can anyone who went post a summary here for those of us who couldn't?
Posted By: SP Daily

Re: GST tax - 12/07/05 09:19 PM

Goods & Services Tax (GST) Public Awareness. Learn more about the GST and to get your questions answered directly by those who will implement the tax. San Pedro Town Hall, 10:00am,tomorrow, Thursday 8/12/05
Posted By: Anonymous

Re: GST tax - 12/07/05 10:00 PM

time travel anyone? wink
Posted By: lillew

Re: GST tax - 12/08/05 02:51 AM

GST in belize??? really and here I thought Canada was the only place that had it??? no you don't wanna know my opinion. I would really love to hear what your meeting was about.
Posted By: SimonB

Re: GST tax - 12/08/05 01:31 PM

At least the GST won't be applied on top of provincial sales tax. When I left the combined rate in Ontario was 15%, god knows what it is now.

I believe Canada's system was built upon Australia's and Belize's sounds like it will be similar to Canada's.
Posted By: klcman

Re: GST tax - 12/08/05 11:52 PM

law - Jesse posted the date in the Euro format, so ya don't need that time machine
Posted By: Anonymous

Re: GST tax - 12/09/05 05:05 PM

little slow on the draw, but finally got it!
Still, nice to know ya got my back! wink
Posted By: Anonymous

Re: GST tax - 12/09/05 07:58 PM

You can download the Act imposing GST at http://www.printbelize.com/. Look halfway down on the LH side.
Posted By: Chris

Re: GST tax - 12/09/05 10:36 PM

I've taken a glance at the GST bill...looks like they want to charge 10% GST on new residential homes. This would be in addition to the 15% Property Transfer Tax. Great, another impediment to investment and development in Belize.
Posted By: SP Daily

Re: GST tax - 12/09/05 10:52 PM

This isn't such a big change. Contractors have been supposedly charging 9% sales tax on each contract.
Posted By: Chris

Re: GST tax - 12/10/05 01:32 AM

The difference is, it looks like the developer now has to charge the house/condo buyer 10% GST.
Posted By: SP Daily

Re: GST tax - 12/10/05 01:42 AM

So from 9% to 10%...
Posted By: Chris

Re: GST tax - 12/10/05 03:38 AM

Sales tax is not payable on real estate sales, only on the commission.

If a developer takes a piece of land and builds condos or villas he will have to charge 10% GST to the buyer of each new home. If a speculator buys a beat up old house and completely re-models it he will have to charge the new GST if he sells it right away. If a hotel owner decides "enough" of tourism and wants to sell he will have to charge 10% GST because it's considered a non-established residential property sale.

Or am I reading the new law wrong? I hope so.
Posted By: Chris

Re: GST tax - 12/13/05 03:54 AM

I'm not reading the new law wrong. This is very alarming, at best it'll be an accounting nightmare at worst it'll severely dent any kind of new home development.
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