BELMOPAN, Belize, Oct 12, CMC – The Belize government says it welcomes the decision by the Economic and Financial Affairs Council of the European Union (ECOFIN) to remove the Caribbean Community (CARICOM) country from Annex II of the Council conclusions on the EU list of non-cooperative jurisdictions for tax purposes.
Annex II identifies cooperative jurisdictions that have outstanding commitments relating to tax good governance and the John Briceño government said the country’s removal confirms that it has fulfilled its commitment regarding the exchange of information on request.
Prime Minister Briceño said the decision brings the EU process into line with Belize’s successful supplementary review and the progress the country has made
“ It reflects the sustained work undertaken across Government to strengthen our laws, systems, and institutional capacity for tax transparency and the effective exchange of information. We welcome the European Union’s recognition of that progress and remain committed to maintaining the international standards expected of Belize.”
The government said that the decision follows the supplementary peer review conducted by the Global Forum on Transparency and Exchange of Information for Tax Purposes, noting that in its report published on April 29, this year, the Global Forum upgraded Belize’s overall rating from “Partially Compliant” to “Largely Compliant”.
A government statement said that following that assessment, the Code of Conduct Group concluded that Belize had achieved compliance and should be removed from Annex II.
It said that on August 31, 2026, Prime Minister Briceño, wrote to the President of ECOFIN seeking the formal completion of that process.
The Code of Conduct Group subsequently confirmed that it would recommend Belize’s removal at the October meeting of ECOFIN,” the statement added.
Prime Minister Briceño, who has left here for Thailand, to attend the Ancillary Meetings of the International Monetary Fund (IMF) and the World Bank Group from October 12-18, has since commended the Financial Services Commission for its leadership and the sustained technical work it undertook throughout the review process.
He has also acknowledged the support of the Ministry of Finance and the contributions of the other public authorities and regulatory bodies involved in securing this outcome.
Belize said it will continue to implement the recommendations of the Global Forum and to strengthen the effectiveness of its tax transparency framework.
Belmopan said the EU’s decision brings to a close the matter arising from Belize’s 2023 exchange-of-information rating and removes the country’s remaining commitment under the EU tax-listing process.
CMC/ak/ir/2026