Prime Minister Said Musa presented the General Sales Tax Bill (GST) for its second and third reading in the House of Representatives. GST is now law and will be implemented on July 1st, 2006.
Honorable Musa commented that the bill has been considered in some detail by the Finance and Economic Development Committee which heard the views and comments of several interested parties in particular the Belize Chamber of Commerce and Industry, the Belize Agro Productive Sector Group and the Hotels Owners Association. In addition a team of technicians held several public meeting in different parts of the country to explain the bill to the public and to listen to their views. Some of the Committee’s proposed amendments to the bill were accepted. The Prime Minister said he would be moving further amendments which relate to the issues such as the repeal of the entertainment tax and the stamp duty on receipts. The Prime Minister went on to mention the main features of the bill with the proposed amendments. The Prime Minister ended his presentation by saying the implementation of the General Sales Tax would be delayed.