The Office of the Prime Minister (OPM) officially launched the Fiscal Incentive MSME Business Tax Amnesty Program on September 19th in Belmopan. The initiative, supported by the Ministry of Investment’s Investment Policy and Compliance Unit (IPCU), the Belize Tax Service (BTS), BELTRAIDE, and the Economic Development Council (EDC), is designed to help micro, small, and medium enterprises (MSMEs) formalize their operations with the BTS.
The program offers participating MSMEs a one-year exemption from business tax, along with relief from penalties and accrued interest on past tax obligations. Applications must be submitted by October 29, 2025. The initiative acknowledges the pivotal role that MSMEs play in Belize’s economy, employing a substantial portion of the workforce and making a significant contribution to GDP growth. However, many operate informally, limiting their access to financing, grants, technical support, and larger markets. By encouraging formalization and inclusion, the government aims to expand economic opportunities and drive development.
Prime Minister John Briceño, speaking at the launch, emphasized the need to reform punitive tax laws. “I think these laws were passed before our time. But in an effort to ensure that people pay their taxes, the penalties are heavy… many are saying, you know what, man, I can’t pay this. I might as well just give up. And we can’t do that. We need to change that,” he said. He added, “We need to encourage, especially our small entrepreneurs… The big businesses, I believe that they need to be audited regularly and they need to pay what they owe.”
MSMEs account for the majority of businesses operating in Belize and are a vital driver of inclusive growth. They provide income opportunities across both urban centers and rural communities, often serving as the backbone of local economies. By fostering innovation, supporting household incomes, and sustaining livelihoods, MSMEs make significant contributions to poverty reduction and social stability. Strengthening this sector not only ensures more resilient communities but also builds a more diversified and competitive national economy.
The amnesty program excludes specific sectors, including gaming, real estate, large importers, financial lending, petroleum-related businesses, and specific entertainment services. Eligible participants include businesses not currently registered with the BTS or those registered from 2023 onwards.
The program represents a strategic step to strengthen MSME resilience, increase economic contributions, and reinforce Belize’s overall economy.
 officially launched the Fiscal Incentive MSME Business Tax Amnesty Program.){kind=link}