(111) HM Revenue – Customs. DT 3530 – DT: Belize: Double Taxation Agreement, Article 6: Dividends. Convention on Double Taxation: Caribbean Community Countries (CARICOM) – Antigua and Barbuda, Barbados, Dominica, Grenada, Guyana, Jamaica, St. Christopher and Nevis, St. Lucia, St. Vincent and Vincent and the Grenadines, Trinidad and Tobago; The United Kingdom, Sweden and Denmark. Example #1: the agreement with the caricom countries includes taxes on income, profits or profits as well as capital gains. As a general rule, profits or profits are taxed only in the country where they are obtained. Dividends are, for example, taxed in the country where the company that paid them is based. [ii] Belize has double taxation agreements with the United Kingdom, Sweden, Denmark and the Caribbean Community (CARICOM) countries. (1) www.oecd.org/ctp/harmful/taxinformationexchangeagreementstieas.htm. Some well-to-do people are subject to high tax rates in their home countries.
Aruba, Sweden, Denmark, the Netherlands, Belgium, Austria, Japan and the United Kingdom all have tax rates above 50%, and Finland and Ireland are just behind. Individuals can also be subject to double taxation, which means that the same transaction or even source of income is subject to two or more tax administrations. Tax sovereignty could tax income at source, while others tax income on the basis of the recipient`s place of residence or nationality. Belize has not only double taxation agreements, but also tax information exchange agreements (TIEA) with several jurisdictions. TIEA was developed by the OECD Global Forum Working Group on Effective Information Exchange in 2002. There are two models of bilateral agreements. [i] Tax treaties vary from country to country, but these two examples could be considered to obtain a taste for nuances. In 2010, Belize signed Tax Information Exchange Agreements (TIEA) with the United Kingdom, Australia, the Netherlands, Ireland, France, Finland, Norway, Sweden, Iceland, Greenland, Denmark, the Faroe Islands and Portugal. Since then, Belize has signed TIEAs with Mexico (2011) and Poland (2013).
The agreement is the first multilateral treaty of its kind allowing legal systems to integrate the results of the OECD/G20 BEPS project into their existing networks of bilateral tax treaties.