|Tourism Taxation Study Underway|
FOR IMMEDIATE RELEASE
Tourism Taxation Study Underway
The Ministry Of Tourism, Civil Aviation and Culture, and the Belize Tourism Board have signed a Bz$100, 000 contract with public finance specialist, Dr. Mark Rider, to carry out a taxation review of the tourism industry. The private sector, and in particular the hoteliers, have been lobbying for this type of assessment for a number of years. The study, which is a component under the Sustainable Tourism Program, will also provide guidance towards the financing of the National Tourism Trust Fund, recommended within the recently completed National Sustainable Master Plan as the land-use planning and destination development arm of the Ministry.
With the endorsement of the Ministry of Finance, Dr. Rider will evaluate existing government policy and taxation on the entire tourism industry and its components, providing recommendations and actions to strengthen the taxation system and its administration that will enable Belize's tourism sector to compete more effectively within the global marketplace. The aim is to increase profitability of tourism businesses and attract new investments, while achieving adequate tax revenue returns for the Government.
Dr. Rider has worldwide experience assisting countries with tax analysis, assessments and fiscal review, including the Governments of Sri Lanka, Indonesia, Pakistan, Sudan, Guyana and Jamaica. He is looking forward to consulting with Belize's tourism players over the next four months with a project completion date set for the end of the year.
(IDB – 2060/OC-BL)
No. 168 Newtown Barracks, P.O. Box 325
Belize City, Belize
Tel. 501-223-2654 Fax. 223-2621