Belize International Business Companies are obliged to prepare and keep its accounting records, further all accounting records shall be maintained and retained for a period of not less than 5 years. These records shall be kept in any place within or outside Belize as may be determined by its directors or other competent persons.
On October 10, 2013 Belize has passed the Accounting Records (Maintenance) Act 2013 in an effort to improve the country`s legal and regulatory framework.
Further and below in the text you can see the most important aspects about the EU "E-Business Directive understand how and if it affects your business.
Digital goods and services has become an important part of the daily life of the modern European consumer and the market is still growing. „Electronic”, „digital” or „intangible” are the terms the usually refers to the digital sales. Digital goods and services do not require tangible medium to be delivered and can be easily transmitted from a distance through the internet. Such products as a song, a film, a software program, a book, or any other electronic documents can be bought in a digital format and instantly delivered to a customer. This way removing the need to go to a local shop to make a purchase and the seller can be situated in any other country and operate through an online shop.
The directive explains and guides how VAT is levied when a European consumer buys a digital book for his e-book reader, a music album for his portable media player or an application for his smartphone from an online store in the United States or elsewhere outside the EU.
Some may think it is a nice sandwich with lots of goodies, particularly Dutch cheese in it… In reality it`s not what you think it is!
Unless you think this:
It is a very complicated corporate tax strategy, or a tax loophole. This is a strategy which is designed to help lowering corporate tax liability. Many large corporations around the world uses this strategy to reduce their worldwide taxation liabilities connected with intellectual Property (IP), among these large companies we can mention Apple, Facebook, Google, Microsoft, Amazon, Oracle Corp and Pfizer Inc.
This may be interesting in our world!
Early today it was confirmed that Cyprus has secured a bailout package that will protect all deposits that are under EUR 100,000.
Looks like Cyprus has avoided bankruptcy as Eurozone Finance Ministers have secured EUR 10 billion bailout, which subsequently will prevent Cyprus banking systems collapse and maintain the country EU member state!
(Part IV) Setting up Mutual Fund
We have arrived to my last post, and here I will explain to you how to set up Mutual Fund in Belize. Mutual Fund is collective investment vehicle, it is like, I said before, your option three, if you are planning to pool funds from investors into one account and manage this account accordingly. If IBC was not the option for you, and neither was brokerage license you probably are looking to set up Mutual Fund.
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