Taxation in Gibraltar

1. The Taxation of Individuals

Tax is charged in Gibraltar on any income which is derived from, accrued in or is received in Gibraltar. However, no income tax is charged on income arising from moneys deposited with a bank or building society in Gibraltar if the depositor is not resident in Gibraltar for tax purposes. An individual not resident for tax purposes will not have income received from exempt companies taxed. There are other concessions for certain exempted individuals. These are set out in section 5 below.

All individuals resident in Gibraltar for tax purposes are also liable to pay income tax on their worldwide income. There is unilateral tax relief given in respect of any investment income which is taxed in the United Kingdom and is not remitted to Gibraltar. If the income is remitted then credit is given for the tax paid in the United Kingdom.