Belmopan, January 25, 2019. The Organisation for Economic Co-operation for Development’s (OECD) Forum on Harmful Tax Practices (FHTP) released the results of its recently concluded meeting held in Paris from 9-11 January 2019. The FHTP is the body mandated to monitor and review tax practices of jurisdictions around the world, focusing on the features of preferential tax regimes.
During the January meeting, the FHTP discussed and assessed the recently enacted changes to Belize’s International Business Companies Act and concluded, based on the amendments, that the regime was “Not Harmful (Amended)”. The Belize delegation to the January meeting comprised representatives from the Ministry of Finance, the International Financial Services Commission, and the Belize International Financial Services Association (BIFSA).