UK – Belize Tax agreement
Draft legislation together with an explanatory memorandum has been published in relation to a new Tax Information Exchange Agreement (TIEA) between the UK and Belize. This follows the signing of a TIEA between the UK and Belize in March 2010.
The TIEA will allow for the exchange of information in line with the OECD’s model and international tax standards. The TIEA is drafted to allow for the exchange of information necessary to prevent fraud and to ensure that the right amount of tax is paid in each country.
The TIEA will take force once both governments have finalised their legislative procedures.