Belize Takes Bold Action Against Tax Evasion

Belize takes a bold step towards greater tax fairness by signing the Multilateral Convention to Facilitate the Implementation of the Subject to Tax Rule (STTR MLI) in Paris. This agreement, signed by Financial Secretary Joseph Waight, strengthens Belize’s fight against tax evasion and ensures that multinational corporations contribute their fair share.

According to an official statement from the Government of Belize, this signing marks an important advancement in the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS). “The new STTR MLI will implement the Subject to Tax Rule in bilateral tax treaties, offering developing countries such as Belize a new tool to protect their domestic tax base,” the government stated.

This agreement is part of the Two-Pillar Solution, which was initiated in October 2021 and endorsed by one hundred and thirty-nine countries. It establishes a global minimum tax rate of fifteen percent, ensuring that Multinational Entities (MNEs) pay their fair share of tax in each jurisdiction where they operate. “The Subject-to-Tax Rule is a key component of the agreement and is particularly important for developing countries,” the government added.