copy the linklink copied!Belize

copy the linklink copied!Introduction

This peer review covers Belize’s implementation of the BEPS Action 5 transparency framework for the year 2018. The report has four parts, each relating to a key part of the ToR. Each part is discussed in turn. A summary of recommendations is included at the end of this report.

copy the linklink copied!A. The information gathering process

As no rulings are issued, this section is not assessed.

copy the linklink copied!B. The exchange of information

As no rulings are issued, this section is not assessed.

copy the linklink copied!C. Statistics (ToR IV)

As no rulings are issued, no statistics can be reported.

copy the linklink copied!D. Matters related to intellectual property regimes (ToR I.4.1.3)

Belize offered an intellectual property regime (IP regime)1 that was abolished from 1 July 2018. The regime is not subject to the transparency requirements under the Action 5 Report (OECD, 2015[5]), because:

• New entrants benefitting from the grandfathered IP regime: No enhanced transparency requirements apply, as follows. The regime has been closed-off, and although grandfathering was provided, it only applies to entrants that benefited from the regime prior to the relevant date from which enhanced transparency obligations would apply.

• Third category of IP assets: not applicable as the IP regime has been abolished.

• Taxpayers making use of the option to treat the nexus ratio as a rebuttable presumption: not applicable as the IP regime has been abolished.

copy the linklink copied!Summary of recommendations on implementation of the transparency framework

copy the linklink copied!Notes