Belize Reacts to Inclusion in EU’s Non-Cooperative Jurisdiction List

Belize Reacts to Inclusion in EU’s Non-Cooperative Jurisdiction List

The European Union (EU) Council has added Belize to the list of non-cooperative jurisdictions for tax purposes.   Shortly after the list went public this morning, the Government of Belize issued a statement, rejecting the EU’s decision.  According to the EU, Belize has not been fully compliant when it comes to the exchange of information, in accordance with the Organization for Economic Co-operation and Development.  In the determination of its non-compliance, the grading system automatically puts Belize as a non-cooperative country.  This is where Belize has registered its displeasure, stating that the automatic categorization is, quote, “unjust and procedurally unfair, which leads to erroneous conclusions being drawn about Belize’s commitment to work with its global partners in establishing a modern and fair international tax framework.”  End of quote.  The government further expressed dissatisfaction at the failure of the EU to engage the government on this matter, and has since coined it as arbitrary and contrary to past practice by the EU. Belize further noted that if the union had engaged Belize, it would have learnt that the country had taken significant steps to address the identified deficiencies that led to the PC rating in the EOIR peer review.  Furthermore, Belize has indicated that the peer assessment was done using outdated information, and had excluded the multiple legislative changes made in recent years.  Love News understands that he EU has agreed to do a supplementary review once Belize makes the request, which it has done on October 2.  With the request already made, Belize registered additional upset at the action by the EU to still release such a report, despite agreeing to a supplementary revision.  In conclusion, the Government of Belize stated that they remain committed in to working with its global partners to establish a modern fair international tax framework.  The other two countries placed on the non-cooperative list were Antigua and Barbuda and the Seychelles.

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