Belize faces prospect of G20 sanctions over tax information

Belize could be hit with economic sanctions by G20 nations for failing to abide by international tax information sharing protocols. The move could prove uncomfortable to Lord Ashcroft, the Conservative party’s largest donor, who is also chairman of the tiny Central American country’s biggest bank.

A senior Whitehall source told The Observer that discussions at this month’s G20 finance ministers meeting in South Korea would include the strong likelihood of the introduction of sanctions on countries which have not abided by an initiative from the Organisation for Economic Co-operation and Development to force tax havens to sign information-sharing agreements.

All countries are required to sign 12 international tax information-sharing agreements. Belize has only agreed one with Belgium, signed late last year. Other countries that could face sanctions include Panama, Guatemala and the Philippines, although Jeffrey Owens, the director of the Centre for Tax Policy and Administration, last month suggested that, unlike Belize, “they were actively in the process of negotiating”. (more…)

Court Day Set in Switzerland for Belize National Basketball Team

Belize National Basketball Team

The case of Belize’s national men’s senior basketball team is going before the Court of Arbitration for Sport in Lausanne Switzerland at 2:00 in the afternoon on March 25th. This is the highest court for hearing any legal dispute arising from any organized sporting discipline anywhere in the world. The Belize Basketball Federation is arguing for the eligibility of seven of the Belizean-American players who played and earned silver for Belize in the 2009 COCABA Championship in Cancun, Mexico. That second place qualified Belize for the CENTRO-BASKET Tournament.

But it was second place under protest, because FIBA found that despite being entitled to Belizean citizenship at birth – because the 7 players did not claim their citizenship by the age of 16, they were not eligible to play as adults for Belize’s national team. It’s a major issue – because it imperils the short to medium term future for the national team which depends on the talents of these American born players who have Belizean parents.

It’s of consequence right now because FIBA Americas HAS announced that the 2010 Centro Basket Tournament will be played the Dominican Republic on July 5-11. The Tournament will feature ten national teams: Belize, British Virgin Islands, Cuba, Dominican Republic, Jamaica, Mexico, Panama, Puerto Rico, Trinidad & Tobago and US Virgin Islands.
A FIBA press release notes that “The classification of Belize depends on the appeal result sent to Lausanne, Switzerland about the eligibility of some of their players.” That hearing, as we noted will be held in March. The Belize basketball Fede3raiton will be represented by attorney Godfrey Smith. Source: 7 News Belize

IPFW prof receives grant to explore lost city

What started out as an exciting, but somewhat conventional summer field school, turned into a major discovery for Christopher Andres, assistant professor of anthropology at Indiana University–Purdue University Fort Wayne (IPFW). In summer 2009, he and a colleague, Gabriel Wrobel, Ph.D., from the University of Mississippi, came across what might be the largest previously unreported Maya center documented in Belize in the past generation. Andres recently received a grant from the Indiana University 2010 New Frontiers in the Arts and Humanities competition for $42,480 to fund further research on the site this summer.

In June 2009, Andres and Wrobel traveled to the Cayo District of Belize for their research project, the Caves Branch Archaeological Survey. They took 15 students as part of a summer archaeological field school, including IPFW students Leah Jaworskyj and Eric Johnson. They spent most of the class working side-by-side with the students, excavating at several sites, mapping caves, and doing lab work. Toward the end of the session, Andres and Wrobel ventured into the jungle with local tour guides and came across a large Maya site that was built on a hill and may be fortified. With permission from the Belize Institute of Archaeology, they later named it Tipan Chen Uitz (pronounced TEEPAN CHEN WEETZ), which means “Fortress Mountain Well” in the Yucatec Mayan language. “We were excited,” said Andres, “because this site has so many interesting implications.” (more…)

Experts say invasive lionfish here to stay

Lionfish threaten Belize Barrier Reef System

ACCORDING to the experts, lionfish are here to stay. The problem with this invasive species is so out of control, they believe there is no effective strategy to completely turn back the clock. But stakeholders are far from throwing up their hands. Yesterday, Bahamian Minister of Agriculture and Marine Resources Larry Cartwright launched an initiative to manage the negative impacts of the lionfish invasion. The initiative is part of a wider regional effort to mitigate the threat of invasive species.

“The Bahamas is a part of a regional project that seeks to address a number of problems relative to various invasive alien species. The spread of lionfish in the waters of the Bahamas is the most recent example of the larger issues of invasive alien species, a problem that faces the Bahamas and many other countries,” said Mr Cartwright.

“According to experts in the field, invasive species are plants, animals or micro organisms not native to an ecosystem, whose introduction is threatening biodiversity, food security, health or economic development,” he said.

The problem with marine invasive species is exponentially worse than terrestrial species, said Elenor Phillips, programme director of the Nature Conservancy (TNC). The majority of the Bahamas’ previous invasive species have been terrestrial based, such as casuarina trees, Brazilian pepper and melaleuca.

The Bahamas is not the only country at risk, as lionfish have reached as far as Venezuela, with sightings all along the way in waters off Cuba, Jamaica and Belize. Lionfish generate an enormous number of eggs and reproduce very quickly, said Mr Cartwright. (more…)

Fodor’s Announces New Photo Contest, “Show Us Your 80 Degree Vacation,” Chance to Win Kodak Video Camera

Fodor's 80 Degree Vacation

Fodor’s Travel announces today the latest in their series of travel photography contests, “Show Us Your 80 Degree Vacation,” where visitors to Fodors.com will have the opportunity to upload and share their favorite photos of warm-weathered destinations with other travelers and the chance to win prizes, including a Kodak ® Zi8 Pocket Video camera.

Fodors.com members are invited to “Show Us Your 80 Degree Vacation” by submitting their favorite warm weather vacation photos, and the stories behind them. Two grand prize winners will win a Kodak ® Zi8 Pocket Video camera plus a Fodor’s Guide of their choice. Ten runner-ups will receive two Fodor’s guides of their choice. All winners will be featured in a slide-show on Fodors.com and may be featured in upcoming Fodor’s guides.

The “Show Us Your 80 Degree Vacation” contest is a part of Fodor’s comprehensive winter travel initiative, 80 Degrees, which launched on January 11, 2010. Designed to help travelers find and book their ideal warm weather vacation, the 80 Degrees initiative on Fodors.com features integrated editorial content, community feedback, booking tools, and travel deals to 65 destinations in the Caribbean, Florida, Hawaii, Mexico, Costa Rica, and Belize. (more…)

Biodiversity, Climate Change Studies Backed at Smithsonian

The Smithsonian Institution, home to 500 scientists and an equal number of research fellows, today received a promise of a boost for the four grand challenges launched in its September 2009 strategic plan. Most notably, the total proposed budget of $797.6 million includes $10 million for the strategic plan. Of that, $8 million would go toward promoting biodiversity and climate change research. These funds signal increased recognition of the need to support programmatic activities at the Smithsonian and not just bricks and mortar, says Scott Miller, the Smithsonian’s acting undersecretary for science.

Within the $8 million, the Center for Tropical Forest Science, based in Panama, is slated to receive $2 million to expand its long-term studies of forest plots around the world. The center got $1.5 million last year, the only science program to be singled out for support in the Smithsonian’s 2010 budget.

If another proposed $1 million in the new budget is approved, the Smithsonian will begin to set up a parallel long-term program in the sea by establishing marine “plots” in Panama, Florida, and Belize that will become long-term study sites. (more…)

Defence force denies incursion into Guatemalan territory

Brigadier General Dario Tapia

The Belize Defence Force (BDF) has denied newspaper reports in Guatemala that soldiers have been entering that country and raiding villages along the border.

The Guatemalan newspaper, Prensa Libre, claimed that the BDF soldiers have been carrying out illegal activities in the Sarstun Abajo and La Finca villages in Livingston, south of the Sarstoon River.

But Commandant, Brigadier General Dario Tapia, has dismissed the reports, saying this is not the first time that Prensa Libre has been making allegations against the force and that the story was purely “to make mischief.

“That is not what a professional defense force does. And certainly the allegations in Prensa Libre are allegations. We have done our own internal investigation. We certainly don’t go into Guatemalan territory to go and do what they are alleging.” (more…)

Belize: A More Stable Investment than Costa Rica

When overseas investors consider buying a home in Central America, they often think of Costa Rica. Most have forgotten about Belize. Belize has been the secret vacation and retirement spot for American and British expats for years. Naturally, Belize is attractive—it boasts the second largest barrier reef in the world and the climate is generally warm all year round—but what’s really driving foreigners to the Central American country is the quality of life.

While Belize is not a highly industrialized country, its infrastructure is improving, and their offshore financial services industry is well regulated and supported by the government. Also, since Belize is still an independent member of the British Commonwealth, its legal system is similar to the Brits’.

Belize also has a very generous tax system. Because they are no capital gains or inheritance taxes in Belize, their taxation framework encourages international business and investment. Also, if qualified, retired persons, even retired expats, can live tax free under the Retired Persons’ Incentive Program, which has been so successful that the government is considering scaling down incentives. Therefore, now is the time to consider a permanent move before new rules are announced later in the year.

Real estate experts are also advising Brits to buy property overseas now while the global economy recovers and the British pound gains strength. While prices are generally cheaper in Costa Rica than in Belize—especially in more lush, underdeveloped areas—a half-acre of land in the Cayo District nature reserve, protected as part of the Belizian rainforest, costs £20,000. Villas go for £72k for a one bedroom and £84k for a two. Source: Buy Association UK

Caribbean Development Bank: 2009 Economic Background and 2010 Prospects

Sharply declining tourist arrivals

Bridgetown — Jan. 31, 2010 — Preliminary estimates indicate that economic output contracted in most regional economies in 2009, reflecting the lagged impact of the global financial crisis and economic recession. Indications are that only four Borrowing Member Countries (BMCs) recorded positive GDP growth in 2009 – Belize, Guyana, Haiti and Montserrat. Among the other BMCs, real GDP in Anguilla contracted by more than a quarter, after a prolonged period of high construction-led growth that was fuelled by FDI. Antigua and Barbuda and Cayman Islands recorded declines that were in excess of 5%, while the real output contraction among most of the remaining BMCs was between 1 and 4%.

The main transmission channels of the crisis to regional economies were sharply declining tourist arrivals and a fall-off in FDI, which negatively affected investment in tourism-related construction projects, reducing output and employment in both the tourism and construction sectors. In addition, the financial crisis adversely affected offshore sector activity in all major jurisdictions and threatened the soundness and stability of regional financial sectors. In the face of these exogenous shocks, Belize and Guyana have shown some resilience. However, the majority of regional economies are highly dependent on tourism and other services and have therefore proved to be much more vulnerable. (more…)

Tropicalia wild file: Whale shark

Belize Whale sharks

This is a fish you don’t see every day; in fact, most people who spend their lives in, on, under, or around the sea never see one. But if you ever do see a whale shark, the world’s biggest fish, it’s an experience you’ll never forget – whale sharks reach lengths of 45 feet and weigh 27,000 pounds.

Whale sharks live in all tropical and warm temperate seas (including the Gulf of Mexico), except the Mediterranean, and prefer water temperatures of 70 to 85 degrees. They are open-ocean fish that spend most of the year alone, so they don’t often come into contact with humans – eight times since 2001 people have reported whale shark sightings to The News-Press, most recently in August 2009 in Florida.

Several of those reports were from recreational fishermen who said that cobia and other fish were swimming with the whale shark. Although whale sharks mostly feed on plankton, they also eat small crustaceans, schooling fish and the occasional tuna and squid, but the big fish is harmless to humans, despite a mouth that could swallow a grown man whole.

Like many sharks, whale sharks bear live young, and a 36-foot female harpooned in 1995 off Taiwan contained 300 embryos, ranging from 16-25 inches in length. These normally solitary animals do congregate at feeding areas such as the northern Gulf of Mexico, Holbox, Mexico, Belize, Utila in the Bay Islands of Honduras, and the northwest coast of Cuba. (more…)