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GOB says it cannot reduce fuel tax

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Pump prices for fuel have increased several times in the past few weeks and the Government says it cannot control factors which contribute to those increases. The Government says that the main contributing factor, global acquisition costs for fuel, has increased rapidly in the past few months. Several entities such as the Belize Chamber of Commerce and Industry and the People’s United Party have called on the government to carry out a tax reform and decrease fuel tax. But the Government will not because it says it will affect its revenue stream. For instance, GOB asserts that if it reduced the fuel tax by two dollars, it will lose seventy million dollars. According to GOB World oil prices are reducing and Belizeans can expect to see a decrease in pump prices with the next shipment which is due by the end of next week.

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