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Nov 8, 2019

E.U. Removes Belize from Tax Haven Blacklist

John Briceño

Belize has been removed from the list of non-cooperative jurisdictions following a meeting of the Economic and Financial Affairs Council of the European Union which was held in Brussels today. The change came after the recent amendment to International Business Act as well as the promulgation of the Economic Substance Act of October. The government says that it will continue to engage with E.U. officials and the international business and financial services sector to ensure additional technical issues are addressed.  PM Barrow has welcomed the decision signalling G.O.B.’s willingness to modernize the international tax framework. Today, we also got a reaction from P.U.P. leader, John Briceño. 

John Briceño, Leader of the Opposition

“It was about time and as I mentioned in the House this is the third time we have tried to correct with what was wrong with the legislation and what was asked from us by the European Union. Even this that was passed there are still some sections that need to be corrected. During the debate I brought it up and the Prime Minister’s point was that he is trying to do everything possible to get Belize off a blacklist and that is why they had to pass it even with the errors. I am happy that it final got there but there are some few corrections to do with the legislation.”

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