7 News Belize

Will New Fiscal Year Bring New Taxes?
posted (December 13, 2016)
At today's press conference, the media also got to ask the Prime Minister about the possibility of new taxes in the coming fiscal year. Government's fiscal difficulties have been well publicized both locally to the unions, and internationally to bondholders.

And as government asks holders of the superbond to give up something - government will also have to prove that it is prepared to itself go through some pain - and that usually means "people pain" in the form of higher taxes. Today the PM was non committal - but tended towards a less painful approach:...

Rt. Hon. Dean Barrow, Prime Minister
"So while acknowledging that there is a problem that must be addressed, I don't think it is quite fair to give the impression that the sky is falling. We have to take some measures. We have to take action, but I believe we can do so in a way that will concentrate rather more on the cutting of fat, the elimination of waste than on burdening the Belizean public with additional taxes."

Minister of State in the Ministry of Finance Dr. Carla Barnett will lead consultations with stakeholders on whatever new revenue measures will be adopted.

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