The tax troubles that Andrew Munnings got into have been well catalogued. And, the truth is - it happened to many micro and small business owners - who start up their small time business with just a dream and a concept - and it grows from there. But, when do they get good with the tax department?
Today an initiative was launched to do just that and make things easier for the small business owners, particularly those who want to start up a business but are not sure where to start and might not be able to manage all the tax fees that it comes within during the emerging phase.
The Belize Tax Service in partnership with several other private sectors officially launched its MSME Tax Amnesty program today, and here's how it works, and what are the perks. Jomarie Lanza has this story.
BELTRAIDE, Belize Tax Service and the Investment Policy And Compliance Unit have joined forces to assist MSME's in sustaining their business and regularizing their tax affairs through a tax amnesty program. The director for IPCU explained that MSME's are drivers of the economy:
Lincoln Blake, Director, IPCU
"First of all we reviewed the Fiscal incentive act because it was seen as necessary to start focusing on more MSME's. Why is that you may ask? First of all if you look at the results of the business establishment survey of SIB they identified that 90% of established businesses are MSME's. 50% of the employment is generated by MSME's, 33% of the MSME's is run by women and one thing we are not proud of is only 7 or 8% only is actually started by youths or ran by youths is something we need to work on."
Andrew Munnings was one of those youths - and when he was strung up, shaved and locked down by the system - it was an example of how a good business idea can end up terribly afoul of the system.
And now, the Amnesty Certificate is offering two benefits that would have helped Munnings: a waiver of penalties and interest if any exist for the period of March 7th to October 31st of this year and also being exempted from paying business tax for one full year once which will begin on the approval date of the certificate
Michelle Longsworth, Director General, Belize Tax Service
"The Belize tax service is pleased to support the rollout of the MSME business tax amnesty program. Our role at the Belize tax service is very straightforward; we implement the process once a taxpayer presents a valid amnesty certificate. So just to go through the process, every business must first register for a tax identification number before applying for the program. This can be done at the one-stop MSME road show that is happening this month. It can be done via IRIS Belize.bts.gov.bz online you can register or we are facilitating any taxpayer who wants to go to any of our offices countrywide to use our lobby kiosks. We have staff ready to assist you to register for your tin. Once a business has received a tin confirmation we will also provide that taxpayer with the education that they need to understand their rights and obligations. With a valid TIN in hand the business may then apply to the tax amnesty program if approved a tax amnesty certificate will be issued. Once the tax amnesty certificate is issued the MSME brings that to BTS and what we do at BTS is we will verify the details against the taxpayer TIN and we will record the amnesty certificate in our system and we will activate the 12 months business tax amnesty period in our IRS Belize system and tax payers will be able to see that via their tax account on the IRS Belize portal."
More information on how you can access the program can be found on BELTRAIDE website and through these roadshows which starts on Wednesday,October first in Belize city and finishes on Thursday October 27th in Belmopan:
Ishmael Quiroz, Executive Director, BELTRAIDE
"Other MSME roadshows have happened and this is something we are looking forward to an even bigger and more impactful one in 2026 I think this is the perfect initial exercise in terms of the timing as well as the format it is kind of bringing together services that we are taking out to you right across the country. It is something to look forward to the idea of having something cohesive and streamlined as possible to make it as smooth as possible. So once again Belgrade. Bz you know jump on the website have a look and call us and I am pretty sure all the agencies can direct accordingly in terms of the information to guide."
As you heard, the roadshow opens up in Belize City on Wednesday at the Civic Center. It will go to all major towns and cities and even a few villages.
