UK and Spain back new tax rules for Gibraltar
06 Mar 2019

AP—Spain and Britain have reached an agreement that sets out stricter rules for companies and citizens operating from Gibraltar, a British overseas territory which Spain considers a colony.

As part of the deal, Gibraltar-based companies will be required to pay taxes in Spain if they conduct most of their business outside of Gibraltar. There are currently more than 55,000 Gibraltar-based companies, nearly double the number of registered residents.

Madrid considers the 30,000-strong territory a tax haven, where corporation tax is less than half of Spain’s.

Link to AP

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One Response to “UK and Spain back new tax rules for Gibraltar”
Colin Piri

Colin Piri March 6, 2019

This article is very misleading. What has been signed is a Tax Information Exchange Treaty, which Gibraltar already has with over 100 other countries. Gibraltar was in fact one of the first countries to commence on this process. Spain has steadfastly refused, up to now, to sign any such agreement. It is only now, in the context of Brexit, and after many many corruption scandals in Spain, that they have relented, and now fully recognize Gibraltar Tax Authority, as well as accepting that Gibraltar is NOT a Tax Haven, agreeing to remove it from their subject list.

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