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EU still not done with Belize; more work to do on tax compliance

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Posted: Friday, November 22, 2019. 2:48 pm CST.

By Aaron Humes: Financial Secretary Joseph Waight confirms that Belize is not entirely off the hook with regard to international tax cooperation, as the Economic and Financial Affairs Council of the European Union (EU) has agreed to remove Belize from its list of non-cooperative jurisdictions (‘the blacklist’) to what is known as “the grey list”.

Waight said: “We have to do more work. There will be a meeting of the House shortly with some amendments to the bills on tax matters, but even when we were on the quote, ‘blacklist’, there was no defensive measures, as they called it, there were no penalties to Belize, and I don’t think the European Union has itself determined what is a consistent set of measures. The European Union is not all unified when it comes to tax measures and taxation matters.”

Secretary Waight added that Belize managed to avoid losing aid and funding from the EU during the period we were on the ‘black list.’

 

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