PRESS RELEASE

The Department of General Sales Tax in conjunction with Chamber of Commerce announces the launching of the GST Compliance Campaign

Effective November 27, 2006 consumers will be able to exchange their GST receipts for raffle tickets and participate in weekly draws of $500.00. A raffle ticket will also allow you to be a part of the grand draw of $10,000.00 to be held on December 21, 2006. Immediately following the news on Channel 5.

“ GST and THE CHAMBER” – PROMOTING TAX EQUITY FOR ALL.
“Force businesses to do the right thing at the till so that you do not end up paying the bill”


PRESS RELEASE

Belmopan - 02 November, 2005.
Cabinet met in regular session on Tuesday, November 1, 2005.

The following items are submitted for public information:

• Cabinet considers introduction of GST

At its meeting today, Cabinet began its deliberations on the first stages of the implementation of a Goods and Services Tax or a General Sales Tax (GST), which is expected to be introduced in the next financial year. Cabinet’s deliberations were informed by a report from Hon. Jose Coye, Chairman of the Tax Reform Commission.

Minister Coye informed Cabinet that a special meeting of the Tax Reform Commission was held on October 19, 2005 to discuss exclusively the consumption tax. He reported that after a protracted discussion there was a general accord for a tax, but with conditions ranging from rate to exemptions to threshold, and that the tax be taken in the context of an overall tax system reform to be recommended.

Cabinet has set aside a special session on Tuesday, November 8, 2005, to finalize its consideration of the new tax as well as the legislative mechanism to be put in place.

(GOB Press Office)

 



PRESS RELEASE

 

Cabinet approves General Sales Tax – rate to come later

 

While the big news concerning Cabinet is its two new members, that body's last meeting prior to its realignment produced some significant decisions. According to a government release, Cabinet has approved in principle to introduce G.S.T., which means either Goods and Services Tax or General Sales Tax. But a return to the VAT, a levy much maligned by the P.U.P., but one that--unlike the sales tax--worked well and kept everyone relatively honest. At a special session on November eighth Cabinet will finalize the rate, exemptions and threshold for the G.S.T., which will come into effect on April first, 2006.

 

(Channel 5 News Online)

 

 

 

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