Regulatory Alerts2014-06-28
Mutual Administrative Assistance in Tax Matters Act Chapter 103:03 Revised Edition 2020
The Government of Belize enacted this Act to give force of law to the Convention on Mutual Administrative Assistance in Tax Matters, covering income, business, and general sales taxes. The legislation empowers the Financial Secretary to obtain and provide information upon request from various entities while establishing strict confidentiality protections and penalties for non-compliance. It further mandates automatic exchange of financial account information by reporting financial institutions in accordance with the Common Reporting Standard and the Multilateral Competent Authorities Agreement.
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