2009-2010 Budget presented in Belize

Prime Minister of Belize Dean Barrow has presented the 2009-2010 Budget for Belize to the country’s parliament. The new budget revealed that no new tax cuts will be introduced in the jurisdiction.

When announcing the fiscal outline for 2009-2010, the Prime Minister said that the priorities of the government would continue to be health and education. He stated that the government of Belize continues to be committed to the education, health, social and physical well-being of the Belizean public, so it is allocating additional budget expenditures to the priority areas.

As regards introducing new tax measures, the Prime Minister announced that the Budget does not propose to introduce any new tax cuts apart from a rate increase in import duty leviable on gasoline and diesel oil. He added that there is a complementary increase in the excise tax on the local production of these same items aimed to maintain equity in the rate of taxes regardless of their origin.

The 2009-2010 budget debate will be held on March 19, 2009.

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