The Belize International Financial Services Association today issued a release saying it supports Government's rejection of the inclusion of Belize by the EU on its List of Non-Cooperative Jurisdictions for Tax Purposes.
A release explains that being labelled "non-cooperative" has consequences for Belize's economic development and trade. They point to "unilateral attempts by various global institutions to extend their oversight to other country's sovereign jurisdiction (resulting) in an inconsistent and unbalanced approach to regulatory oversight."
The release adds, quote, "While Belize is not a large player in the international financial services industry, it is committed to being a cooperative and transparent jurisdiction. Belize met the deadline set by the OECD's Forum on Harmful Tax Practices to remove "harmful" tax features from its IBC Regime and was assessed as compliant in January 2019."
BIFSA says it will help government to implement "the additional necessary legislation required to meet full international regulatory standards, to ensure the preservation of Belize's International Financial Services Industry."
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