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Saturday, April 20, 2024

PWLB officially launched

by Charles Gladden BELMOPAN, Mon. Apr. 15, 2024 The...

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Food for thought – loophole to avoid paying sales receipt taxes

LettersFood for thought – loophole to avoid paying sales receipt taxes

Dear Editor,

When is the journalism community going to investigate the issue of the millions of dollars of unaccountable (and taxable) sales receipts that never get recorded on a cash register, and instead are just placed in the infamous “Belize wooden drawer system of accountability” through hand-to-hand cash transactions?

If the drawers were eliminated and these million-dollar merchants were forced to use a cash register w/receipts on ALL sales transactions, GOB could tap into a sizeable taxable revenue stream to DOUBLE teacher’s salaries, fix an existing school infrastructure in serious disrepair and also pay police officers a liveable wage.

Assign an aggressive investigative bulldog to dig into this matter. Trust me, savvy merchants nationwide have figured out this loophole. They abuse this system on a daily basis, laughing all the way to the bank with a sack-full of unaccountable profits.

Who needs an accountant when government provides a gift that just keeps on giving? Food for thought.

Lawrence Denig

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PWLB officially launched

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