Prevention of Tax Treaty Abuse – Fifth Peer Review Report on Treaty Shopping

Belize

A. Progress in the implementation of the minimum standard

Belize has five tax agreements in force as reported in its response to the Peer Review questionnaire, including the multilateral agreement among the members of the CARICOM concluded with ten treaty partners (the CARICOM Agreement).1 None of those agreements comply with the minimum standard.

Belize signed the MLI in 2019 and deposited its instrument of ratification on 7 April 2022, listing its non-compliant bilateral agreements. The agreements modified by the MLI will come into compliance with the minimum standard once the provisions of the MLI take effect.

Belize is implementing the minimum standard through the inclusion of the preamble statement and the PPT.2

B. Conclusion

The CARICOM Agreement does not at this stage comply with the minimum standard and discussions to bring this agreement up to date should be continued.1

1. Revisions to the CARICOM Agreement require an agreement from its eleven treaty partners.

Summary of the jurisdiction response – Belize

 

	1.Treaty partners	2. Compliance with the standard	3. Signature of a complying instrument	4. Minimum standard provision used
1	Austria	No	No	PPT
2	Switzerland	No	No	PPT
3	United Arab Emirates	No	Yes MLI	PPT
4	United Kingdom	No	Yes MLI	PPT

Other agreements

 

	1.Treaty partners	2. Inclusive Framework member
1	CARICOM Agreement treaty partners (Antigua and Barbuda, Barbados, Dominica, Grenada, Guyana*, Jamaica, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Trinidad and Tobago)	Yes (Antigua and Barbuda, Barbados, Dominica, Grenada, Jamaica, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Trinidad and Tobago) No (Guyana*)