The Belizean government has announced the implementation of two distinct General Sales Tax (GST) holiday weekends, commencing December 6th-7th and repeating December 20th-21st. This initiative temporarily suspends the standard 12.5% sales tax on retail goods, providing financial relief to consumers during the holiday season.
Financial Secretary Joseph Waight confirmed the policy while offering a candid assessment of its fiscal implications. He acknowledged the government’s intent to assist families with cost-of-living expenses while emphasizing that the measure carries significant revenue consequences for the national treasury. The official projected approximately $5 million in lost government revenue based on comparable tax holiday events held during the previous Christmas period.
Waight provided nuanced insight into the economic calculus behind tax suspensions, noting that increased consumer spending activity partially compensates for direct revenue losses. The waiver applies comprehensively to standard goods sold through local retail channels, creating a broad-based incentive for consumer participation. This marks the continuation of a established policy approach aimed at stimulating commercial activity during peak shopping periods while delivering tangible savings to households.