BELIZE FORCED TO SIGN TAX SHARING WITH G-7

* Typical G 7 conference figuring ways to force third world countries out of their market share, with their rules and agreements they force on us smaller countries, who cannot fight back.



BELIZE PASSES AN INCOME TAX SHARING INFORMATION LAW FORCED BY G 20 COUNTRIES

The idea of secret numbered accounts is now over in Belize. The International Financial Sector is a fair sized segment of the countries diversified economy. The major G 7 countries in particular are trying to squeeze small countries like Belize out of the financial services business. Unfortunately, the G 7 countries control the wire transfer system and exchange settlement systems and threaten to cut us off entirely unless we comply. Other attacks and restrictions are expected to flow at us in Belize eventually, as the competition for market share in financial services intensifies worldwide.
Offshore financial services do more than have secret accounts. So all is not lost. 99% of the money laundering in the world is done by the USA, England and Switzerland. Other attractions to investors are ZERO tax rates, different legal jurisdictions for importing exporting documentations, or for incorporation in the global economy.
There are 45 countries with financial services in the offshore markets. In the Caribbean, there are 14 countries that count this as part of their economy. In Central America there are also 3 countries. Belize is only one of these.
In Belize, the last review showed 66 companies licensed to provide international company services. 36 companies provide trustee services, 5 companies do Mutual Funds, 3 companies provide Asset Protection and management services of different kinds. 6 companies are licensed to trade in international securities, 3 companies offer international money lending, and 3 companies offering brokerage for international services, or advisory and consultancy services. All of these companies pay annual license fees in Belize and must have a registered office here.
Hundreds of Belizeans are employed in this financial services sector of Belize. There are also 6 licensed International Banks, with total assets of around $250 million USA dollars.
Belize has moved from a TAX HAVEN status with this new law, to a Financial Service Sector type industry. Not counted in this review are a dozen or more individuals who operate in Singapore, London, New York and Chicago, or Toronto and Vancouver with registered businesses in these countries and addresses, paying their taxes in these countries where they operate, but actually live in Belize in semi-retirement, conducting their business out of their brains using the laptop through the internet. Most of these are gambling in stocks, bonds, commodities, futures and such instruments on various international exchanges. Their business may be registered in other countries but living here, their skill and knowledge is stored in their brains and goes where ever they go and can get an internet connection.