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Will BTL audit report shows it owes GST?

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In late June, a document purportedly being (BTL VO) financials of almost thirty million dollars owing to GST by  Belize Telemedia Limited was leaked to the media. The debt was accumulated by the company from 2012 to 2017.  While the allegations were denied by the Chairman of BTL Board Nestor Vasquez and the Prime Minister Dean Barrow, the company is now being audited to determine whether it owes GST.  Today, the media probed the Financial Secretary, Joseph Waight, about the ongoing audit.

Joseph Waight – Financial Secretary: “ I suspect one of the key is double counting, charging each step of the way, not giving credits. If you sell from A to B in the GST System you get a credit and each time you move there is an input and there is an output. I suspect the problem is there. I would imagine it more with the Accounting Division within BTL providing information timely and the auditors also acting timely to be able to follow the flow of money within the company from the purchase to the final use of the items.

The Government of Belize owns fifty-one percent of Belize Telemedia Limited.

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