The Ministry of Finance announced that the Agreement on the exchange of tax related information between the Czech Republic and Belize was signed on February 2016 in Mexico City.
The agreement will enter into force after completion of ratification procedures and thus will be eligible to apply its provisions in regard to the exchange of information relating to all taxes established by the laws of both countries.
The agreement allows the Financial Administration of the Czech Republic to request and obtain all the information necessary for proper detection, assessment and recovery of Czech taxpayers, obtaining information could be from banks as well as other financial institutions. Information received pursuant to the Agreement may continue to be used in the context of detecting tax crimes.
This agreement is another powerful tool for financial management in the fight against tax evasion.
Impact on investors: The TIEA between the Belize and the Czech Republic was signed.