According to the Economist Intelligence Unit, the GOB has pledged not to raise the general sales tax (GST)in the 2010/11 financial year.
This decision was made even though the IMF, in their latest report on Belize’s economy, recommended raising taxes to forestall a forecast budget deficit of 1.8% of GDP in 2009/10. The IMF had recommended that the GST from 10% to 12.5%.
He’s Smiling because someone else pays for his gas.
Dean Barrow has stated that he will not raise the GST but he has shown financial discipline by taking the unpopular decision of raising the petrol tax. The price of gas in Belize has skyed to more $8.31 Bze/gallon. A significant portion of this is tax, but the price is still significantly less than it was in mid-2008 when the price oil peaked on the world markets. Inevitably, this higher gas prices will decrease consumption and the government will once again be in the position of having to find revenue. In the short term, however the government expects to raise $30M Bze. The likely solution will be to finance their projected debt through increased borrowing. Belize already has a high debt to GDP ratio of about 90%, expect it to become worse.
Rafael Castillo
July 7, 2009
I support the increase in the petrol tax but i also support reform in how the petrol tax is applied i believe that the tax should fall heavier on wealthy Belizeans and even middle class Belizeans who for some reason or the other decide to purchase sport utility vehicles with low fuel economy, this increases the demand for fuel and also more than likely has an impact on acquisition costs. I believe that the tax should be increased for importing vehicles with high fuel consumption and lowering the tax for those people who decide to import a more fuel economic, clean burning vehicle. Overall Belizeans needing to start taking responsibility for their actions and if paying higher taxes is one consequence so be it. I am all supportive of the measures this government has put in place.
Napoleon Cayetano
March 21, 2010
I have renewed respect for mr. Dean Barrow for not raising taxes.A gas tax is impotant to build revenues for our public works department who keep our roads and keep us on the go.One should not aworry about what kind of vehicle the other person is driving, after all the person with a less economic vehicle ( Who are the rich) will purches the most gas.So its O,K to raise gas tax .
John
April 8, 2010
sheeples sheeples sheeples dangle dollar in front of the fool with your right hand and take $100 out his pocket.
John
April 8, 2010
sheeples sheeples sheeples dangle dollar in front of the fool with your right hand and take $100 out his pocket.
derek
March 19, 2011
Barrow is a monumental idiot. The worst prime minister Belize has ever seen, navigating with utter arrogance into a future of dismay. Belize is better off without him and his chain of fools.