edc.info@opm.gov.bz | +501 828-5262

Stay Connected!

Reforms

What is a reform?

In the context of Economic Development, a reform is an intervention taken to improve and enhance service delivery by the Government of Belize that will result in an improved business climate and economic development.

Why are reforms important?

  1. To identify and assess opportunities to improve economic outcomes;
  2. To improve institutional capacity in the GOB
  3. To encourage growth and sustainability

Instruments of reform:

  • Regulatory instruments (policy and legislation)
  • Modernizing processes and procedures
  • ICT platforms

Reforms

Reform Building Act Amendment
Goal To improve and strengthen the quality of domestic construction and to clarify the roles and jurisdictions of the Central Building Authority (national regulator) and local Building Units at Municipalities (local authorities).
Description The EDC/PPD has completed the initial phases of support to the Ministry of Housing and the reform was transferred to the Ministry in June 2018 for full implementation which includes the certification and operationalization of all local Building Units, the development of Regulations to govern the sector and the elaboration of National Building Codes And Housing Policy.
Objectives
  1. To amend legislation to clarify roles and responsibilities, and to strengthen specific sections
  2. To establish certified local Building Units
  3. To strengthen the role of the Ministry of Housing and the CBA to oversee the construction sector
  4. To assist in the development of the National Building Code and Housing Policy
  5. TO assist in the development and transition to an online application platform
Lead Ministry Ministry of Housing and Rural Development
Key Partners
  1. Ministry of Local Government
  2. Ministry of Housing
  3. Municipalities
  4. Central Building Authority
  5. Professionals
Reform eGovernance
Goal To advance the government’s eGovernment Strategy
Description There are over 150 public services that will be digitized in the upcoming years via various initiatives by both the EDC/PPD and CITO.
Objective Digitization of all public services – Priority for PPD/EDC are the Doing Business areas.
Lead Ministry CITO
Key Partners
  1. Funding Agencies (IDB, CDB)
  2. Ministry of Public Service
  3. BCCR, CBA, MLG
Reform Stamp Duty Reform
Goal To improve administrative systems and taxation
Description The Ministry of Natural Resources in close collaboration with the EDC/PPD aims to improve the Stamp Duty system of land valuation in an effort to improve revenue collection without impeding business development and economic growth.
Objectives
  1. To finalize a standard methodology for Stamp Duty valuation
  2. To improve administrative systems and processes
  3. To provide for the updating of the Land folio system
  4. To contribute to the regulation of the Real Estate Sector
Lead Ministry Ministry of Natural Resources
Key Partners
  1. Banking Sector
  2. Real Estate Association
Reform Secured Transactions and Collateral Registry
Goal To facilitate greater financial inclusion by providing for the use of movable property as collateral in Belize as a tool for improving access to finance, especially for MSMEs.
Description The ultimate goal of a modern and functional secured transactions system is to facilitate access to credit for all sectors and types of economic actors, particularly for SMEs, as well as in the manufacturing, agriculture and productive sectors.
Objectives
  1. To modernize the Secured Transaction System
  2. To improve better access to finance through the use of movable property
  3. To improve greater uniformity in the registry system and notice provided to third parties
  4. To assist in the development of a Collateral Registry
  5. To assist in the development of a Credit Bureau
Lead Ministry Ministry of Investment, Trade and Commerce and the Central Bank of Belize
Key Partners
  1. Central Bank of Belize
  2. Belize Bankers’ Association
  3. Solicitor General’s Office
Reform Public Transportation Reform
Goal To transform public transportation into an efficient system serving the needs of its end users.
Description A Comprehensive National Transportation Master Plan has been produced to provide a holistic framework for guiding public and private-sector investments in an efficient and modern transportation system Covering the aviation, maritime and terrestrial sectors (airports, eports and roads). The PPD has submitted a proposal to the IDB for grant funding to implement key short-term recommendations.
Objectives
  1. To update the bus licensing system and rationalize routes
  2. To develop a central and digital ticketing system
  3. To develop a Transportation Planning Unit at the MOT
  4. To improve policy and legislation to address public transport sector management
Lead Ministry Economic Development Council-PPD
Key Partners
  1. Ministry of Transport
  2. CITO (Digitizing/Centralizing license plates and driver’s licenses)
  3. Belize Infrastructure Limited (BIL)
  4. Bus owners
Reform Taxation Reform
Goal To increase economic activity by streamlining and modernizing the national tax system.
Description The business community has for over a decade advocated for a review and simplification of the existing trade and tax regime (direct and indirect taxes, duties) citing inefficiencies, complexity, cost and inequity. For the government, substantial revenue leakages pose major challenges that affect its ability to consistently deliver and invest in public services.
Objectives
  1. To simply the layers of taxes
  2. To promote growth-oriented taxation policies
  3. To modernize the tax departments (re-engineer processes, change management, online platform)
  4. To introduce risk-based auditing
  5. To improve revenue collection and expand the tax base
Lead Ministry Ministry of Finance
Key Partners
  1. Tax Reform Steering Committee (Public and Private)
  2. EDC
Reform Trade License
Goal To administer a transparent and equitable Trade License fee regime using a standard methodology.
Description Trade License is a fee charged to allow businesses to operate within municipalities. The private-sector has continuously voiced concerns about the and the non-standard manner in which Trade Licenses are it determined and hence the unpredictability to businesses which affects planning and affordability.
Objectives
  1. To develop a standard methodology for determination of the annual rental value and rate of Trade License
  2. To standardize classification of business sectors
  3. To modernize and develop a uniform predictable Trade License system
Lead Ministry Ministry of Local Government
Key Partners
  1. Mayors’ Association
  2. BCCI
  3. Other private-sector stakeholders
Reforms Fiscal Incentive Act
Description of Reform/ The current Fiscal Incentive act is being amended to be in compliant with the WTO regulations.
Lead Ministry Ministry of Economic Development, Petroleum, Investment, Trade and Commerce
Status of Implementation In Progress
Impact Stimulate production, investment and trade. WTO compliant.
Reforms Export Processing Zone Act
Description of Reform/ The current Export Processing Zone Act is being amended to be in compliant with the WTO regulations and to better suit to current business climate of Belize.
Lead Ministry Ministry of Economic Development, Petroleum, Investment, Trade and Commerce
Status of Implementation In Progress
Impact Stimulate investment (FDI and Local) development and employment opportunities.

EDC’S REFORM PROCESS FLOW CHART

FinalReformProcess
Would you use a system where you can pay taxes online?
Close Menu