The recent Fortis and BEL share sale has sparked significant debate, with Opposition Leader Tracy Panton raising critical concerns about the fairness of tax exemptions granted to domestic investors. Panton revealed that these investors will enjoy substantial tax breaks, including exemptions from stamp duty, business tax, income tax, and withholding tax on dividends or interest. While this appears advantageous for large institutional players, Panton argues that small and medium-sized enterprises (MSMEs) are left without such benefits, creating an uneven playing field. The government’s plan to sell shares to recover acquisition costs has further fueled skepticism about who truly stands to gain. Panton emphasized the disparity, noting that while Belizeans face rising utility costs, fuel taxes, and GST, these major investors are granted a ‘tax-free paradise.’ The Opposition’s critique highlights broader issues of economic inequality and the burden placed on ordinary citizens amidst these financial maneuvers.
