New Business Policy Roadmap Launched by B.C.C.I.

Earlier this week, the Belize Chamber of Commerce and Industry unveiled the 2025 Business Policy Roadmap. This comprehensive guide aims to tackle some of the most pressing issues affecting Belize’s economy. The roadmap highlights key areas of concern, including corruption, labor force development, and immigration. B.C.C.I. President Katherine Meighan shared more details with us today about the roadmap’s tax reform policies. Here’s more on that.

 

Katherine Meighan, President, B.C.C.I.

“We have a tax system that is dated in many ways. You’re nodding your head, so you’re fully aware of that. And then secondly, we have a changing world. And that means changing local national interest as well. And tax reform is just a part of that. So that that wheel can function properly. There are many areas of tax reform. There is, and this is a part of it, the trade license. Yes. Right? And if I may, the process of grade B, sometimes grade C collaboration has led us to the part with trade license where we’re still not where we need to be. And so we could think about it, from a collaboration perspective, to bring this topic full circle as well, to say if we collaborate further, we can achieve. There’s other areas of tax reform. business tax, corporate income tax, income tax. All of these important parts play a significant role in how we can ensure that our investment climate or economic climate or development climate for most of us, including those who are the significant contributors, which are all of us, the Belizean community, the Belizean citizenry is gonna have an impact, right? Anybody who gives tax wants to know that they’re going to receive something in exchange, right? And they need to understand and believe that it’s healthy, and it’s transparent, and that it’s functioning in a way where they’re receiving something back at the same time.”