Belize Revenue Magistrate, Ed Usher, has ordered Belize Telemedia (BTL) to pay business tax totalling more than BZD4.6mn (USD2.3mn) for the months of February and March 2008.
The order was made on the morning of 24th June at a hearing held at the Magistrate’s Court, Belize City.
The Magistrate ordered that of the total amount, Belize Telemedia must pay the sum of BZD2,36mn by the 1st July 2008, and the balance of BZD2.3mn by the 8th July 2008.
The order follows the ruling of the Chief Justice given on the previous day dismissing the company’s application for an injunction to restrain the government from collecting business tax.
Telemedia had attempted to argue that under a favourable arrangement struck with the previous government of Prime minster Said Musa, its obligation to pay business taxes in full were waived under certain circumstances.
However, during an extraordinary session beginning on 21st June, Chief Justice Dr. Abdulai Conteh reviewed the case brought by BTL and decided that, while the company was entitled to argue over the validity of its special arrangement with the former government, it must continue to pay taxes until the issue is fully resolved.
The court also said that proceedings in the London Court of International Arbitration (LCIA) could not have any effect on the rights of a government to collect taxes within its legal jurisdiction.
The contractual arrangement between BTL and the Musa government was referred to the LCIA by the new administration of Prime Minister Dean Barrow, elected in February 2008, when the incoming government learned of the special deal.
At the hearing before the Magistrate, the Commissioner of Income Tax was represented by Senior Counsel, Lois Young, and Belize Telemedia by Senior Counsel, Eamon Courtenay.
.
Network Tweets Archive
| Resources | Partners
| Site Map | Links
| Newsletter
Archive | Contact
| RSS Feeds
About | Syndication |
Advertising & Marketing |
Recruitment |
Terms & Conditions |
Privacy
Copyright © 2012 - All Rights Reserved - Tax-News.com
All content provided by BSI Media
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment