EC PARENT SUBSIDIARY DIRECTIVE - 90/435
Gibraltar is within the EU by virtue of its status under Article 227(4) of the Treaty of Rome, it being a territory for whose external relations a Member State (ie the United Kingdom) is responsible.
Furthermore, Gibraltar sees its future as being very much within the EU. As part of Britain's accession to the EU in 1972 Gibraltar was included for all aspects, apart from:
- the requirement to levy turnover taxes.
- the requirement to levy a common external tariff.
- its exclusion from the Common Agricultural Policy.
In all other respects EU Directives are considered to apply to Gibraltar and Gibraltar, in its turn, has been demonstrating a strong commitment to implementing these Directives, most particularly in areas such as banking, fund management and more recently, company law. One of the most interesting Directives, from a fiscal planning point of view to have emerged from Brussels in recent years has been Directive 90-435 which
