Belize has recently passed the Accounting Records (Maintenance) Act in a bid to improve the country's legal and regulatory framework.
In accordance with the Act, every entity shall keep its accounting records at any of the following locations:
If the accounting records of an entity are kept outside Belize then such entity shall provide its Registered Agent in Belize with a written record of the physical address of the place(s) where the accounting records are kept and notify the Registered Agent of any change thereto within 14 days.
In addition, it shall be the duty of the Registered Agent to obtain accounting records from wherever they are kept and provide these to the competent authority in Belize upon request within the time specified in such request.
In the Act, "accounting records" include financial statements, general and subsidiary ledgers, sales slips, contracts and invoices and records and documentation relating to:
Furthermore, all accounting records shall be maintained and retained for a period of not less than 5 years following the closure of an account, or the end of a transaction, or the termination of a business relationship, whether such relationship is a one-off, regular or habitual relationship.Back to News
Maastricht University - 5th Global Tax Policy Conference: Tax Policy after BEPS, what can be expected? On 6 September 2019 at the Royal Museums of Arts and History in Brussels, Prof. Dr Hans van den Hurk, chairman of the Annual Global Tax Policy Conference of the Maastricht Centre for Taxation (Maastricht University) with his esteem speakers are addressing the above question.Read more