Tax relief goes to Telemedia
John Briceño
But the big bulk of tax relief in the amended Income and Business Tax Bill will go to Telemedia which the government nationalized in August, 2009. Prior to that, in December 2008, the government had increased business tax from nineteen percent to twenty-four point five percent on telecommunications. Well, now government has reverted to the nineteen percent tax and Telemedia will also stand to gain from the removal of the dividends tax. The Leader of the Opposition, John Briceño, did his math and raised concerns in the House in an exchange with the Prime Minister.
John Briceño, Leader of the Opposition
“Why are we doing this, in particular for B.T.L.? Why is B.T.L. so special? I don’t know if you’ve looked at their prospectus Mister Speaker, but when you look at what B.T.L. has proposed to the public, and if you go to page ten you will see that B.T.L. has no problem in making profits. They are going to be making a lot of profits according to their numbers. For instance, they are projecting that in 2011 they are going to be making twenty seven point four million dollars in profits. In 2012 – thirty four million dollars, in 2013 – thirty six point seven million dollars, in 2014 – they’re looking at thirty eight point seven million dollars and in 2015; this is the five-year projection that they made – forty one point seven million dollars. Mister Speaker in 2011, next year alone, we the taxpayers, this country will be giving B.T.L. nine point one million dollars. By 2012 it is another nine million dollars. If you look at the nine million dollars that they’re giving up, and it’s right here in black and white, it’s their numbers, with nine million dollars you could give out at least another two thousand four hundred scholarships to our young students. With this nine million dollars, Mister Speaker you could hire at least another nine hundred police officers to help curb the senseless violence that is taking place, especially in Belize City.”
Dean Barrow
dean barrow
“Telecommunications was always paying business tax at a rate that the service providers complained was inordinate. To make out that this is offering relief to those that are already specially treated is absolutely dishonest. Telecommunications pays the highest rate of business tax by in this country. How much does B.E.L. pay? Nineteen percent, which it was, was always very high.”
John Briceño
“I could see why is it that the Prime Minister is so concerned. Why is it that investors are not buying shares? I wonder if the Prime Minister would take the opportunity to tell us how many Belizeans have bought shares so far.”
Dean Barrow
“They say people aren’t buying because they don’t like the numbers or because they don’t have money. That is nonsense. We have had to concede that there is a problem because of the litigation, because of the uncertainty as long as that litigation about the constitutionality of the taking of B.T.L. is unresolved.”
Briceño also raised concern over the high unemployment.
Obviously Mr. Barrow is trying to dig himself out of the hole he put himself in when he nationalized BTL this tax relief is only to help him pay for BTL nothing else, would be nice if he had enough sense to be able to create some jobs in the country so people can start feeding themselves properly and the children would have clothes and shoes to go to school, but apparently he is really out of touch with the people he was elected to serve, the things he does are so obvious even a blind person can see what he is up to, I think that it is time that he throw away that book he has been reading it’s not working and will never work if he stays on this part there is going to be a serious revolution in Belize.
The government is trying to clear up some of the sh** that the PUP got us into through their greed & corruption. They haven’t much to play with as the treasury is almost empty. PUP have the nerve to make comments and suggest how to manage the money that is left???
They complined about the Novellos jobs that have gone because of the receivership, yet they loaned the Novelos 30 MILLION in one day, and never recovered it. This government shouldn’t pay those wages – the Novellos Brothers should, but they won’t as they have no concience or honour.
Did the PUP, when in power, lament the 500 jobs lost when Dickies closed (Due to the high cost of running the business under a corrupt regime), 100 or so when INTELCO died a death, or the 200 odd when Nova Shrimp collapsed? NO!!!!!!!!!!! Not a word……
I wouldn’t trust the PUP to run a bath, let alone a country again – ever!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
That is true about Briceno’s comments davety after all it was the PUP that guaranteed BTL profits so truly they have no right to be making any comments.
Check out the waste of the people’s tax money to these theives that take the poor people for fool they study the so call law and yet they cannot establish or pretend that they cannot a law that sets a percentage of how much btl can benefit the people without being gluttons but jah jah is watching.