Omari Neal

FAQs CRS AEOI Portal

1.
What is CRS and what is the importance of CRS in AEOI?
The Common Reporting Standard (CRS) was developed by the Organization for Economic Co-operation and Development (OECD) in response to requests made by the G20. It is the global standard for the automatic exchange of financial account information for tax purposes. In other words, CRS is the gathering and reporting of financial information by financial institutions in participating countries, to help combat tax evasion and protect the integrity of tax systems in the various jurisdictions.
2.
Who is considered to be an FI?
In CRS, financial institution does not just mean banks. An FI could be a Custodial Institution, a Depository Institution, an Investment Entity, or a Specified Insurance Company.
3.
Who should be registered for CRS?
You are required to be registered for CRS if you are consider to be a Custodial Institution, a Depository Institution, an Investment Entity, or a Specified Insurance Company.

TERMS OF REFERENCEMICROSOFT 365 LICENSE PROCUREMENT

Background: The Belize Tax Service (BTS), a department under the Ministry of Finance, is seeking to procure Microsoft 365 licenses to support its digital transformation and ensure secure, collaborative, and efficient service delivery across all units. The licenses are intended to maintain and expand current capabilities under the Government of Belize’s standard ICT platform.
Objective: To acquire a one-year subscription of Microsoft 365 licenses tailored to the operational and security needs of BTS, including collaboration tools, project management solutions, security add-ons, and analytics services.

REQUEST FOR EXPRESSIONS OF INTEREST CONSULTING SERVICES

The Government of Belize has received financing from the Inter-American Development Bank (IDB), toward the cost of the Strengthening of Tax Administration Project (STAP) and intends to apply part of the proceeds for consulting services.
The consulting services (“the Services”) for a Consulting Firm to Design, Implement, and Execute a Countrywide Public Awareness and Marketing Campaign for Electronic Tax Document (ETD) before, during and after the rollout of the ETD. Specific objectives include the following:
1.
Design and implement a Public Awareness and Marketing Campaign
2.
Increase Progressive Public Awareness of the ETD System
3.
Encourage Voluntary Taxpayer Compliance
4.
Foster Adoption and Usage of E-Invoicing services
5.
Collaborating with ETD Consultant

EXTENSION FOR FILING OF FINANCIAL STATEMENT RETURN

The Director General of the Belize Tax Service Department (BTSD)
notifies all taxpayers that the deadline for filing Financial
Statement Return has been extended to June 30th, 2025.
Taxpayers are also reminded that the Financial Statement Return is
a summary return, and as such, uploading of full Financial
Statement is not mandatory—only the completion of the return is
required.

NOTICE TO ALL REGISTERED BUSINESSES

The Director General of the Belize Tax Service Department hereby notifies all taxpayers that are registered for Business Tax to the following important filing requirements:

Belize CRS Guidance Notes

This Guidance Note is issued to assist Reporting Financial Institutions in understanding their
obligations, to increase compliance, educate, enhance efficiency, and reduce errors in reporting.
The OECD has developed extensive and comprehensive materials for the consistent application
and interpretation of the CRS by all jurisdictions. This Guidance Note is specific to Belize and is not
intended to replace the CRS Standards and implementation guidelines as referenced to below.
Financial Institutions may seek additional professional advice as it relates to CRS. Future
amendments to the legislation may be included in this note periodically.

Notice to Reporting Financial Institutions and Multinational Enterprises

The Director General of the Belize Tax Service Department (BTSD) wishes to inform you that BTSD is in the process of implementing a new system for the submissions for Common Reporting Standard (CRS) and Country by Country (CbCR). The new system is very user friendly and, you will be provided with training and guidance to ensure a smooth transition. In light of this development, the Director General has extended the deadline to April 30, 2025, and we kindly request that you refrain from filing any CbCR and CRS reports for the 2024 reporting period until further notice. However, we encourage all Financial Institutions to begin preparing their reporting files in anticipation of the new system’s launch.

EXTENSION FOR BUSINESS TAX FILING DATE​

Dear Taxpayers,

The Belize Tax Department wishes to inform all Business Tax filers that due to an ongoing system update required to implement recent legislative changes, the filing date deadline for January 2025 Tax Period is temporarily unavailable, Originally due on February 15, 2025 has been extended to February 28, 2025.

PAYE and Legislative changes Webinar

BELIZE TAX SERVICE
Join us! We want to hear from you!
This session is designed to assist participants with the
basic concept and understanding of the new PAYE
Calculation and Legislative Changes for Belize Tax
Service Department.
Belize Tax Service PAYE

FEBRUARY 4TH, 2025: DAY 1 ACCESS
FEBRUARY TH, 2025: DAY 2 ACCESS