Big Break for Small Businesses

More than 800 small and medium-sized businesses across Belize have been approved under the government’s Micro, Small, and Medium Enterprise (MSME) Tax Amnesty Programme. This is according to the government.

A total of 909 applications were submitted nationwide, with 806 MSMEs successfully approved for the initiative, which grants a one-year exemption from business tax and waives accumulated penalties and interest on outstanding tax obligations.

The programme aims to bring informal businesses into the formal economy while strengthening national tax compliance.

The highest number of applicants came from the Cayo, Belize, and Stann Creek districts, which together accounted for about 65% of all applications. The remainder came from Orange Walk, Corozal, and Toledo.

By sector, retail trade made up the largest share of applications at 25.6%, followed by food and beverage services at 20.2%. Other key sectors included personal services, tourism and recreation, and accommodation and hospitality, reflecting strong participation from Belize’s service-driven economy.

Officials say the goal is to encourage formal registration, improve compliance with the Belize Tax Service, and help small businesses access financing, grants, and wider markets.

To qualify, businesses must meet at least two of three criteria: number of employees, annual sales, or total assets, depending on whether they fall into micro, small, or medium categories.

However, certain sectors are excluded from the programme. These include gaming and lotteries, real estate, petroleum-related businesses, money lending services, non-tourism rental operations, and most professional and consultancy services. Auto rental services and entertainment promotion companies are also ineligible, among others