Belize Chamber of Commerce, Belize Tax Service address business community concerns about GST Christmas waiver

Posted: Wednesday, December 11, 2024. 3:50 pm CST.

By Aaron Humes: Belizeans can look forward to two weekends of General Sales Tax (GST)-free shopping – December 14, 15, 21, and 22 – and a month-long GST holiday for hams and imported turkeys starting this weekend.

But businesses will have to make some adjustments to how they calculate the 12.5 percent tax and remove it for retail items – though not for items imported (including hams and turkeys), sold wholesale or on layaway/credit, and for some items not at all.

A representative of the Belize Tax Services Department (BTSD) responded to reports that some businesses are actually planning to close on those weekends rather than attend the “hassle” of reconfiguring their GST regime. They are not barred from doing so, but they would lose out on what are expected to be monster sales at what is traditionally one of the most profitable times of the year.

Businesses are required to implement the GST waiver if they are open per the Statutory Instrument now in force. Michelle Longsworth, Director General of the Belize Tax Service Department, told Channel 7 News on Monday that after reviewing their figures they realized they would actually be meeting their tax targets for the year and so can afford the estimated $5 million in revenue forgone by this initiative.

In a simple example, $100 worth of standard-rated goods (i.e., taxed at 12.5 percent) would cost $88.50 without the tax. Your receipt will show the full $100 but you will only pay that $88.50 and it will be offset at the end of the month.

The waiver will not apply to the following: motor vehicles, gasoline, LPG, diesel, guns, ammunition, cigarettes, and alcoholic beverages, nor to service providers such as restaurants. However, motor vehicle and boat parts will not be charged GST on those days, as will clothing, footwear, and other retail sales for those days only. The ham and turkey waiver lasts all month.

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