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Sep 8, 2021

Renegotiated Deal with TNC Results in Discounted Tax Rate

Julie Robinson

A second project that TNC has a part to play in is the Belize Maya Forest Trust. TNC purchased over two hundred thousand acres of land and placed it in a trust for conservation. The lands were surrounded with controversy when the current administration revealed that TNC was exempted from paying land taxes on the land. That agreement was re-negotiated and TNC is now set to pay one dollar and forty cents per acre in land tax. That is equivalent to over three hundred and thirty thousand dollars annually in land tax to G.O.B.

 

Julie Robinson, Project Director, TNC

“In the first agreement, the original agreement that was signed back in October, we had tax exemption from paying land taxes. However, last year was an extraordinary year. We were in an economic crisis. Those parcels of land were significant and they also contributed significant revenues for the government. So, we as TNC actually recognized that these are exceptional circumstances, and that is one of the ways in which we were able to open the dialogue, the government opened the dialogue, and we spoke and we came to the agreement that the agreement that we will pay this reduced rate which is actually thirty percent discount on the lower tax rate for productive lands. So, that payment will be made annually. We had paid the full amount at the end of last year, for all of 2021. So, the 2021 taxes have been paid in full at no discounted rate. So, going for 2022 and beyond, then we will be paying discounted rate of a dollar forty per acre.”


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