I appreciate the commitment of the government to support the Finance community that provides effectively most of the resources of Gibraltar and to defend the tax-exempt company and the qualifying company regimes and to challenge the EU. Though I remain deeply sceptical as to the effect of such move.
Every reader will remain that the EU and the OCDE had been widely criticised for trying to import in low tax jurisdictions an element of their own taxation when tax competition was seen as fair game. Unless they revise their own tax rates, countries with high tax levels were bound to lose to low tax jurisdictions. The proponents of such view received an unexpected support from the meaningless withdrawal of the USA from the discussions. Although there is no indicia that the USA is withdrawing from the fight against tax evasion, quite the contrary, tax havens felt relieved and justification of their position. This is proving short sighted as countries are trying their way around to squash
