On the 19th of January 2019, Belize Government enacted Statutory Instrument No.11 of 2019 – International Business Companies (Intellectual Property Asset Prohibition) Regulations, 2019.
2019 comes with changes in many jurisdictions! Some of the changes are not fully clear, as the amendments were rushed through… however, I would like to share with you the main changes.
Seychelles is one of the jurisdictions that had to implement some amendments, just like Belize did, in order to remain complaint with the OECD (Organization for Economic Cooperation and Development), more specifically BEPS (base erosion and profit-shifting project) requirements. You can read about Belize changes and BEPS background here.
New Year comes with long-awaited changes in Belize tax system.
In 2015 the Organization for Economic Cooperation and Development (OECD) and G20 countries designed the base erosion and profit-shifting project (BEPS). Belize is a member of the Inclusive Framework on BEPS; consequently, until the end of December 2018, it had to amend legislation to comply with BEPS requirements.
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