Exemptions

(1) A contractor shall be granted upon approval by the Minister of Finance, exemptions from customs duties, levies or imposts as may be prescribed by any other law, on the exportation of petroleum which such contractor is entitled to export pursuant to his contract. (2) A contractor, his contractors and subcontractors may be granted, upon approval by the Minister responsible for the administration thereon, relief from the following, (a) any tax or customs duties payable on the importation and subsequent exportation of machinery, equipment, materials and other items required for petroleum operations; (b) any tax or customs duties payable on the importation and subsequent exportation of reasonable quantities of household goods and personal effects by non-Belizean employees of such contractor, his contractors and subcontractors; and 28 (c) such other taxes, imposts, levies and duties posed within Belize except for income tax as provided for in section 29 of this Act.