BIFSA Comes Out in Support of G.O.B.

The Belize International Financial Services Association, BIFSA, has issued a release supporting government’s position in rejecting the country’s inclusion on the EU’s list of Non-cooperative Jurisdictions for Tax Purposes.  BIFSA notes that while Belize may not be a large player in the international financial services sector, it met the deadline set by the OECD’s Forum on Harmful Tax Practices to remove harmful tax features from its IBC Regime and was assessed as compliant in January 2019.  Being labelled as non-cooperative has consequences for Belize’s economic development and trade.  This sector in Belize is a strong contributor to the local economy creating additional higher paying, skilled employment opportunities for Belizeans.