Belize Government makes changes to tax administration

The Government of Belize has made improvements to tax administration, by implementation of the ASYCUDA computerized customs management system. This tax administration system is developed by the United Nations Conference on Trade and Development (UNTCAD) and covers most foreign trade procedures, including handles manifests and customs declarations, accounting procedures, transit and suspense procedures.

It is anticipated by the Government that the new system will boost customs duty collections and improve compliance as regards the nation’s General Sales Tax (GST) and Business and Income Tax

Also, with technical support from the International Monetary Fund, the Belize Government is to consider bringing the hotel accommodation services sector completely under the General Sales Tax net, and repealing the Hotel Accommodation Tax. Comprehensive tax reform has been deferred until the feedback on the local tax regime is received from the IMF.

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