Exemption from taxes

Notwithstanding anything to the contrary in the Income and Business Tax Act, the Sales Tax Act, the Customs and Excise Duties Act, the Customs Regulation Act, the Exchange Control Regulation Act and any Regulations made under the said Acts, or in any other law, regulation, rule, order, ordinance or instrument having effect as part of the laws of Belize, taxes. (a) each Developer shall, subject to section 4 of this Act, be exempt from any taxes, duties or imposts under the aforesaid Acts and other laws; and (b) the exemption specified in paragraph (a) shall vest in each Developer and shall have effect in Belize commencing from the date of commencement of the Agreement and shall continue in effect for so long as the Agreement 6 Cruise Ship Port Development Project remains in force and effect or for a period of twenty years, whichever is later in time. taxes.