The Government of Belize has expressed satisfaction over the removal of the country from the European Union’s Annex 1 blacklist of non-cooperative jurisdictions for tax purposes.
Christopher Coye, the Minister of State for Finance, Economic Development, and Investment, lauded the EU’s decision, emphasizing it as a testament to Belize’s steadfast dedication to transparency in its tax and regulatory systems.
He highlighted Belize’s commitment to establishing an effective regime for exchanging tax-related information.
In October 2023, the EU included Belize in its Annex I list, citing an overall partially compliant assessment from the OECD Global Forum on Tax Transparency and Exchange of Information.
Belize’s initiative
Belize’s removal from the Annex I list follows a successful request for a Supplementary Review by the Global Forum, scheduled for the first quarter of 2025.
This proactive approach underscores Belize’s resolve to address concerns and maintain its international standing.
Prime Minister’s acknowledgment
Prime Minister John Briceño expressed gratitude for the collective efforts of the Ministry of Finance and the Financial Services Commission.
He hailed this development as a significant achievement, bolstering Belize’s reputation as a conducive environment for reputable businesses.
Global collaboration
Briceño reiterated Belize’s commitment to collaborating with global partners to establish a modern international tax framework.
He emphasized the values of shared responsibility, mutual respect, accountability, and fairness as guiding principles in this endeavor.
