We introduce a new semantics for a logic of explicit and implicit beliefs based on the concept of multi-agent belief base. Differently from existing Kripke-style semantics for epistemic logic in which the notions of possible world and doxastic/epistemic alternative are primitive, in our semantics they are non-primitive but are defined from the concept of belief base. We provide a complete axiomatization and prove decidability for our logic via a finite model argument. We also provide a polynomial embedding of our logic into Fagin & Halpern's logic of general awareness and establish a complexity result for our logic via the embedding.