Posted: Thursday, December 12, 2024. 11:14 am CST.
By Zoila Palma Gonzalez: The Government of Belize announces that, for the first time, General Sales Tax (GST) will be waived on local retail sales of ALL standard-rated goods on December 14, 15, 21, and 22, 2024, subject to certain exceptions.
On these days, Belizeans can purchase goods in shops and stores across the country without having to pay the 12.5% tax usually applied to most purchases.
In addition, for the entire month of December, picnic shoulder hams, smoked ham legs, and imported turkeys will be zero-rated.
The Christmas Waiver applies to immediate local retail purchases only, and not for items ordered, bought on credit, layaway or hire purchase or bought on a wholesale basis, or on consignment.
However, there are reports that some grocery stores are planning to close shop for those days since it is expected that Belizeans will flock to take advantage of this deal.
Deputy Director General of the Belize Tax Service Vilma Broaster explained that the businesses that choose to close will lose out on massive sales.
“What is being done to encourage all businesses to participate, some business plan to close on those days. Okay. This one is a little bit tricky. The thing is that all businesses, because there’s an SI that speaks to the fact that the goods will be exempt.
So there’s no way getting around that. Persons operating a business and registered for a GST must implement these for those days, for all the affected days. If they are selling ham and imported turkey, they will have to implement these,” Broaster said.
“If a business plans to close on those days, I am not too sure what we can do with a person who choose to close their business. It is that they will be losing sales because the amount of persons that we envision will be out there to try and purchase on these three days will be a large amount of persons.”
So if they choose not to take their share for those days, that’s their prerogative,” Broaster added.
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The post General Sales Tax Department says shops that close will lose out during peak days appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Posted: Thursday, December 12, 2024. 11:14 am CST. By Zoila Palma Gonzalez: The Government of Belize announces that, for the first time, General Sales Tax (GST)
The post General Sales Tax Department says shops that close will lose out during peak days appeared first on Belize News and Opinion on www.breakingbelizenews.com.
