Tax information exchange agreements

—(1) The Minister may enter into Tax Information Exchange Agreements with the government of any country or territory outside Belize with a view to applying international standards on transparency and effective exchange of information relating to tax matters. (2) An agreement pursuant to sub-section (1) shall be incorporated in an Order and published in the Gazette as a Statutory Instrument. (3) Upon publication, the Order shall have the force of law in Belize, notwithstanding anything in this or any other enactment. (4) The restrictions contained in section 8 on the disclosure of information shall not apply with respect to a request for information pursuant to the agreement. (5) An Order made under this section may contain ancillary or consequential provisions for obtaining information or otherwise as may be necessary to give full effect to the tax information exchange agreement concerned. 102 CAP. 51 Tax Administration and Procedure (6) An Order made under this section may provide that a contravention or breach thereof shall be punishable on summary conviction by– (a) a fine not exceeding five thousand dollars; (b) a term of imprisonment not exceeding two years, as may be specified in the Order; or (c) both such fine and term of imprisonment. (7) Every Order under this section shall be subject to negative resolution.