The Trade license Act of 2024 - implementation was delayed last year because it was too close to the election. The Prime Minister said they would do it this year, but, "psych!" - it's been stalled again.
The Government of Belize today officially announced a deferment in the implementation of the Act - which will introduce a trade licensing regime for both urban and, for the first time rural areas. This would mean that villages would now be subject to trade licensing laws. Under the deferment only businesses in towns and cities will still be subject to trade license fee assessments. Rural businesses including those on Caye Caulker are not required to pay trade license fees until the law is fully enacted which, based on unconfirmed reports, will be some time around February.
This is the second time it is being put off but reports are that the new bills with the new calculations have already been sent out in some municipalities. Any application fees already paid towards the license will be credited to the applicants when the law takes effect. The delays are being cited as "necessary to complete all parliamentary obligations before the Act can be enforced". Until then, the 2020 law remains in full effect.
The new act assesses fees on what is determined to be the "productive footprint" of a business.
