Belize to hike Taxes in Upcoming Budget

According to Belizean officials, the jurisdiction is to announce wide-ranging tax hikes in its upcoming Budget in order to solve its fiscal woes.

In a recent interview, Belize’s Financial Secretary Joseph Waight said that the Government of Belize 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,” Waight said.

Waight also said that business leaders and unions have told the Government of Belize that it should first of all improve the efficiency of the tax administration and only after that look at tax hike options.

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