Regulatory Alerts2020-04-27
Economic Substance Act 2019 Guidance Note G-CD-No.7 2 of 2020
The Financial Services Commission of Belize issued this guidance to clarify the commencement dates and filing deadlines for entities subject to the Economic Substance Act 2019. It specifies that entities incorporated before January 1, 2020, generally begin their first fiscal year on April 30, 2020, while those incorporated on or after that date start on their incorporation date, with both categories having nine months to file after the fiscal year ends. The Commission also directs entities to await the publication of specific Economic Substance Forms B, C, and D and encourages seeking professional advice or contacting designated email addresses for queries regarding compliance.
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