Statutory Instrument No. 48 of 2019 represents an order approving Project Management Services (Belize) Limited as a beneficiary under the Fiscal Incentives Act, Chapter 54 of the Laws of Belize.

Based on the Order’s description, Project Management Services (Belize) Ltd., “shall rehabilitate seven (7) banana farms, and produce bananas for export.”

Located in the Stann Creek District, the approved enterprise “shall be permitted to import such quantity of such items free of customs duty, and revenue replacement duty as shall have been proved unavailable from suitable local products or raw materials, and necessary for the establishment/expansion and operation of the Company, for the sole use thereof, but limited to: Building Materials and Supplies; Specialized Tools; Plant, Machinery, and Equipment; Fixtures and Fittings; Office Equipment & Appliances; Utility & Transport Vehicles (25 Pick-up Trucks, 25 Motor Bikes, 15 Buses); [and] Agricultural Machinery and Supplies.”

The duty exemption period ends on June 3, 2024, with the company receiving no tax holidays. Also, among the ten conditions that the Company must adhere to, it is stipulated that it must continuously “employ at fifteen hundred (1500) persons by 3rd June, 2024.”

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