Tax information exchange agreement

(1) The Minister may enter into Tax Information Exchange Agreement 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) Every such agreement as aforesaid shall be incorporated in an Order which shall be published in the Gazette as a Statutory Instrument, and upon such publication, the Order shall have the force of law in Belize notwithstanding anything in this or any other enactment, and the restrictions contained in section 4 of this Act on the disclosure of information shall not apply with respect to a request for information pursuant to such (3) An Order made under this section may contain such ancillary or consequential provisions for obtaining information or otherwise as may be necessary to give full effect to the tax information exchange agreement concerned. (4) An Order made under this section may provide that a contravention or breach thereof shall be punishable on summary conviction by such fine not exceeding five thousand dollars or by such term of imprisonment not exceeding two years as may be specified in Order, or by both such fine and term of (5) Every Order under this section shall be subject to negative resolution.