Cabinet approves legislation for modernizing tax administration and anti-money laundering initiatives; approves new loans for roads and community projects

By Aaron Humes: At next Friday’s sitting of the House of Representatives, new amendments to outstanding legislation will be introduced in connection with the modernization of tax administration with respect to laws regarding anti-money laundering, combatting the financing of terrorism, and proliferation financing in Belize.

The Government will also seek approvals for new loans totaling $12.4 million from the Caribbean Development Bank (CDB) for multiple projects.

The legislation is in keeping with Belize’s commitment to avoid being listed as a supporter of terrorist organizations and the criminal element washing illicit money in local banks.

The loans are for rehabilitation of 43.5 miles of rural roads furtherance of the Resilient Rural Belize Program and support for the Social Investment Fund (SIF) to cover costs associated with four outstanding community projects: Corazon Creek Technical High School building in Toledo, Cristo Rey R.C. Pre-Primary and Primary School Construction Sub-Project in Cayo, the continuation of the Libertad/Concepcion Rural Water System in Corozal, and the Dorothy Menzies Child Care Center buildings on St Thomas Street, Belize City.

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