By Belize Live News Staff: The Belize government has introduced new legislation aimed at leveling the playing field for diesel importers by standardizing the importation fees for both diesel and biodiesel fuels. During the latest session of the House of Representatives, the law was passed to impose a uniform import tax across all forms of diesel, addressing a longstanding disparity that placed biodiesel importers at a financial advantage.
Before this legislation, biodiesel importers benefited from significantly lower import taxes, while importers of traditional diesel faced steeper fees, leading to an uneven market. Prime Minister John Briceño emphasized that the new law is designed to ensure equity among all fuel importers, as well as to eliminate the need for additional testing of biodiesel.
“The reality is, without this law, someone could import regular diesel, label it as biodiesel, and benefit from reduced taxes without any reliable method to verify the fuel type locally,” Briceño explained. “Now, any fuel classified as diesel will face the same import fee, ensuring fairness for all market participants.”
When asked about the impact of the law on businesses, the Prime Minister highlighted the case of PUMA Energy, a major player in Belize’s fuel market. According to Briceño, PUMA had been at a disadvantage under the old system due to the lower excise duties levied on biodiesel.
“This change ensures a fair market for companies like PUMA, which have invested in a robust service network in Belize,” Briceño noted.
The legislation was successfully passed after all readings, paving the way for a more transparent and balanced diesel market in Belize.
