Environmental Tax Increase Will See Trickle Down Effect
In the upcoming fiscal year slated to start on April 1, the Government of Belize is proposing to make just over fifteen million dollars in revenues from Environmental Tax. In the budget presentation, Prime Minister Dean Barrow announced that the Environmental Tax will be upped by one percent, putting it at three percent. While there will not be an increase in the General Sales Tax (GST), the increase in environmental tax will trickle down to the Belizean people as it is a tax that is levied against majority of goods and services including clothing, cellular phones, battery chargers, headphones, musical instruments as well as footwear, jewelry, appliances and all imported food items with a few exemptions. Prime Minister spoke on this particular increase, saying that it is not as toxic as if they would to raise the GST.
Some of those exemptions are rice, beans, potatoes, coffee, tea, butter and butter substitutes, cheese, margarine, cooking oil, shortening, lard and lard substitutes, powdered and condensed milk, baby formula, sardines, meat of swine (salted or in brine), corned beef and salt. It is to be noted that domestic goods do not carry environmental tax.