A new program has been launched to provide tax relief for Micro, Small and Medium Enterprises. It’s called the “Fiscal Incentive MSME Business Tax Amnesty Program” – but we’ll just call it “Making up for Munnings.”

But, it does provide meaningful relief – and even Munnings can get grandfathered in. Here’s how it works.

The program offers an opportunity for MSMEs to formalize their status with Belize Tax Services – and once they are registered, they will qualify for business tax exemption for a period of one year from the date of issue of an Amnesty Certificate and will not be liable for any accrued penalties or interest related to business tax obligations.