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GOB will not proceed with Proposed Tax Increase on Agricultural Land Clearing

Posted: Thursday, March 22, 2018. 4:10 pm CST.

BBN Staff: Yesterday, the Commissioner and Deputy Commissioner of General Sales Tax (GST), the Executive Members of the Belize Agro-Productive Sector (BAPS) Group, and the President of the Chamber of Commerce met with PM Dean Barrow to discuss the Statutory Instrument (S.I.) proposing to charge GST for agricultural land clearing.

Resulting from the meeting, the Government of Belize (GOB) has agreed not to proceed with the   S.I. that would have standard-rated for GST purposes (at the rate of 12.5 %) on land preparation for agriculture, harvesting, and crop dusting services.

GOB accepted that while the S.I. might have succeeded in achieving its objective, it would have resulted in overall prejudice to the sector.

Government announced that it will not at this time proceed with the proposed S.I..

 

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