Gibraltar – New tax measures in 2005

The optimism over Gibraltar's on-going economic growth and the development of the jurisdiction as a leading and well regulated finance centre has continued in 2005 despite some uncertainty surrounding the final outcome of a legal ruling on Gibraltar's proposed new measures on corporate taxes.

The strong growth of the economy was stressed by the Government when, in June, it delivered what has been described as one of its most exciting Budgets to date and a small surplus for the 2004/05 fiscal year allowed the Government to introduce several tax concessions.

As well as benefits for Gibraltar's pensioners, the Budget included measures which struck an immediate cord with local and overseas investors. The Government also announced that the unilateral tax relief provisions currently applicable to certain countries only, would be extended to all countries.