Business Community Has Mixed Feelings about GST Waiver

Today, the Belize Chamber of Commerce and Industry (B.C.C.I.) held a session with its members to address any concerns about the government’s General Sales Tax (GST) waiver on Christmas shopping for the next two weekends. The waiver doesn’t cover the service industry, consignment goods, wholesale items, hire purchases, new motor vehicles, cigarettes, liquor, fuel, liquid petroleum gas, guns, mobile phones, and similar items. However, the Chamber members were more focused on the technical aspects of how the current system will handle the waiver. This evening, B.C.C.I. Vice President Jody Williams told News Five that while the business community generally welcomes the government’s incentive, there are still some reservations. News Five’s Marion Ali reports.

 

Marion Ali, Reporting

Jody Williams, Vice President of the Belize Chamber of Commerce and Industry, shared that the business community has had mixed reactions to the government’s recent GST waiver announcement.

 

Via Phone: Jody Williams, Vice President, B.C.C.I.

“There’s been a fifty-fifty reaction. You know, there’s a lot of questions. I know this is the first G.S.T. waiver for weekend sales for the first time in Belize. So as we know, like for every new thing happening, you know, there’s a lot of questions that need to be answered, a lot of clarifications and so on. But all in all the Belize Chamber of Commerce does support this initiative by the government. It will definitely bring financial relief for a persons doing their Christmas shopping, especially when it comes to goods that come with GST.  for GST goods, especially when it comes to electronics, certain food items, hams and anything integral that persons need and definitely, we think this is a good thing and I think the main objective as well, as we have definitely pointed out that we want to boost economic activity in the Christmas for businesses in Belize for sure, and at the same time, keep believe in dollars here locally in Belize.”

 

For half of the business community that has reservations, Williams thinks it might be because this GST waiver is a new concept for merchants. Some have even mentioned that they won’t be open for business during this period.

 

Via Phone: Jody Williams

“I think it’s because it’s a new thing. They may have more questions than anything else, but we at the Chamber, we are bringing our team together to work along as well with the Belize Tax Service Department to provide answers, to give more information and to educate the businesses and consumers of Belize that may have these questions. And there has been talk and rumors actually that some business will be closing on those specific days, but we are saying why? Because definitely they will miss out on sales on these days. And it’s a good initiative. It boosts consumer spending as well.  We had a black Friday just a couple of weeks ago and now this is like a black Friday, but it’s actually the entire weekend, so if they made those Black Friday sales possible, so why are they being reserved for this first time GST waiver weekends for Christmas shopping?”

 

Williams mentioned that for the many businesses that have welcomed the waiver, the B.C.C.I. has encouraged them to ensure the busy shopping season goes as smoothly as possible for everyone.

 

Via Phone: Jody Williams

“There will be more activity, there will be more shoppers, so I would suggest to all businesses, we’re doing our part at the Chamber to provide as much info to be ready to have those extra persons ready to serve, not to have much backline, and especially when it comes to your system, your P.O.S. system and your cash registry and everything to be fit and ready for those days because it will be very crowded and persons want to take advantage of this. So, as businesses, you know, we must be ready for those weekends.”

 

Marion Ali for News Five.