As the ending of the year 2018 approaches, the House of Representatives reconvened today, Wednesday, December 12, 2018, for their last meeting.  The meeting began shortly after 10:00 A.M. in the Chamber of the National Assembly Building, Belmopan. The proceedings on the Orders of the Day were the following:

 

BILLS INTRODUCED

  1. Income and Business Tax (Amendment) Bill, 2018.

Bill for an Act to amend the Income and Business Tax Act, Chapter 55 of the Substantive Laws of Belize, Revised Edition 2011; to make provision for a tax regime for companies engaged in certain business activities; to set the rate of tax for these companies; to exempt from tax the interests and dividends from certain trade or business; and to provide for matters connected therewith or incidental thereto.

  1. Stamp Duties (Amendment) Bill, 2018.

Bill for an Act to amend the Stamp Duties Act, Chapter 64 of the Substantive Laws of Belize, Revised Edition 2011; to exclude a certain category of international business companies from the charge of duties applicable under Part IV; and to clarify the interpretation of a Belizean company in regards to the excluded category of international business companies; and to provide for matters connected therewith or incidental thereto.

  1. International Business Companies (Amendment) Bill, 2018.

Bill for an Act to amend the International Business Companies Act, Chapter 270 of the Substantive Laws of Belize, Revised Edition 2011; to eliminate ring-fencing by extending the regime to Belizean residents, removing the restrictions from international business companies to carry on business with Belizean residents, removing the prohibitions in relation to owning of real property, and removing the exemptions from taxes and duties; to provide for physical presence by international business companies; and to provide for matters connected therewith or incidental thereto.

 

(Presented by The Right Honourable Prime Minister and Minister of Finance and Labour, Local Government, Rural Development, Energy, Public Utilities, Public Service and Elections and Boundaries)

 

  1. Retired Persons (Incentives) (Amendment) Bill, 2018.

Bill for an Act to amend the Retired Persons (Incentives) Act, Chapter 62 of the Substantive Laws of Belize, Revised Edition 2011; to prohibit persons who are designated as a Qualified Retired Person from making investments in Belize; and to provide for matters connected therewith or incidental thereto.

(Presented by The Honourable Minister of Tourism and Civil Aviation)

 

BILLS FOR SECOND READING

  1. Designated Processing Areas Bill, 2018.

    Bill for an Act to repeal and replace the Export Processing Zone Act, Chapter 280 of the Substantive Laws of Belize, Revised Edition 2011; to facilitate investment, production of value adding of enterprises in Belize in national priority sectors; and to ensure compliance with regulations and standards; and to stimulate employment, transfer of technology and economic development; and to provide for matters connected therewith or incidental thereto.

   2. Income and Business Tax (Amendment) Bill, 2018.

Bill for an Act to amend the Income and Business Tax Act, Chapter 55 of the Substantive Laws of Belize, Revised Edition 2011; to make provision for a tax regime for companies engaged in certain business activities; to set the rate of tax for these companies; to exempt from tax the interests and dividends from certain trade or business; and to provide for matters connected therewith or incidental thereto.

    3. Stamp Duties (Amendment) Bill, 2018.

Bill for an Act to amend the Stamp Duties Act, Chapter 64 of the Substantive Laws of Belize, Revised Edition 2011; to exclude a certain category of international business companies from the charge of duties applicable under Part IV; and to clarify the interpretation of a Belizean company in regards to the excluded category of international business companies; and to provide for matters connected therewith or incidental thereto.

    4. International Business Companies (Amendment) Bill, 2018.

Bill for an Act to amend the International Business Companies Act, Chapter 270 of the Substantive Laws of Belize, Revised Edition 2011; to eliminate ring-fencing by extending the regime to Belizean residents, removing the restrictions from international business companies to carry on business with Belizean residents, removing the prohibitions in relation to owning of real property, and removing the exemptions from taxes and duties; to provide for physical presence by international business companies; and to provide for matters connected therewith or incidental thereto.

The meeting concluded at 2:07 P.M. after several  Members extended Christmas greetings not only to their constituencies but to the nation at large.