Belize welcomes removal from EU blacklist
The Government of Belize is pleased with the country’s removal from the European Union’s (EU) Annex 1 blacklist of non-cooperative jurisdictions for tax purposes.
Minister of State for Finance, Economic Development, and Investment Christopher Coye said: “I welcome the EU’s action as it not only demonstrates the EU’s recognition of Belize’s unshakeable commitment to the transparency of its tax and regulatory framework, as well as, in establishing an effective regime for the exchange of information on tax matters but also corrects the false and unfair designation of Belize as a non-cooperative jurisdiction for tax purposes.”
The Ministry said in October 2023; the EU automatically included Belize in its Annex I list after Belize had received an overall partially compliant assessment from the OECD Global Forum on Tax Transparency and Exchange of Information (Global Forum) with regard to the exchange of information on request.
It was noted Belize’s removal from the Annex I list is the result of its successful request for a Supplementary Review by the Global Forum, which will be undertaken in the first quarter of 2025.
Meanwhile, in welcoming the news, Prime Minister John Briceño said: “This is the culmination of the dedication and hard work of the team from the Ministry of Finance and the Financial Services Commission. My Government is proud of this tremendous achievement and its reinforcement of the reputation of Belize as a place where firms and individuals of substance and good reputation can conduct and promote their business.”
The Prime Minister further underscored Belize’s unwavering commitment to working with its global partners in establishing a modern international tax framework underpinned by the values of shared responsibility, mutual respect, accountability, and fairness.
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