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Home » Economy » G.O.B. and I.D.B. Sign $14M Loan for Strengthening Tax Administration
Nov 1, 2019

G.O.B. and I.D.B. Sign $14M Loan for Strengthening Tax Administration

Fourteen million dollars will be injected into the newly amalgamated Belize Tax Service for the strengthening of tax administration and collection as well as for the modernizing of the technological infrastructure. A loan motion for the upgrade was approved by the Senate in August, a week after it was passed by the House of Representatives. The loan agreement was officially signed today by Prime Minister Dean Barrow and Country Representative for the I.D.B., Dr. Cassandra T. Rogers. PM Barrow says that the project will implement a new business model through a series of integrated processes and services for the taxpayers. This according to the Prime Minister, will increase tax revenue and reduce evasion. 

 

Prime Minister Dean Barrow

“We are once again grateful to the I.D.B. for another instant, yet another example of the robustness of the partnership between us, of the strength of the bank’s program with Belize. I agree with you that this particular facility comes at just the right time. We in fact look forward to the fruit that it will bear in terms of strengthening tax administration and as you put ensuring a better revenue yield for the country, something that we can always do with. I am very pleased to hear you say that you are already discovering that the new head of the amalgamated tax administration and collection Mrs. Michelle Longsworth is of course already demonstrating her preparedness to cooperate with the Bank and naturally she, we in government are certain will help to give this new fit the success that we all expect from it.”


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