Belize Expected To Hike Taxes In Upcoming Budget

Posted on 2017-03-09

Belize is to announce wide-ranging tax hikes in its upcoming Budget in a bid to solve its fiscal woes, officials have told local media.

In a recent interview, Belize's Financial Secretary Joseph Waight told 7News that the Government cannot rule out tax increases. In February the Government said it was considering potential options for hikes. "We don't know just yet, that's still in the process we are going through but I think that at this point in time it is inevitable that there will be an increase in some taxes," he said.

He said that business leaders and unions have told the Government that it should first improve the efficiency of the tax administration before looking at tax hike options.

Source: STEP