HM Government of Gibraltar has today published confirmation that Spain’s Ministry of Finance has issued a draft Ministerial Order to remove Gibraltar from its list of non-cooperative jurisdictions, marking a significant and long-awaited milestone.

In the 2015 Summer Budget the former Chancellor of the Exchequer, George Osborne, announced reforms to the rules regarding the taxation of people who hold UK non-domiciled status (‘non-doms').

A tax treaty between the United Kingdom and the Kingdom of Spain regarding Gibraltar has been agreed on the 4th of March.

On 25 July 2024, the Government of Gibraltar published draft legislation taxing profits derived from disposals of interest in Gibraltar residential property, a measure announced in Minister Feetham's Budget address on 2 July 2024.

Since Gibraltar went into lockdown, Grahame Jackson, Tax Partner at Hassans, has moved his regular training sessions from the conference room to online.

The launch of Burren Capital in June was a major coup for Gibraltar. The hedge fund was the largest at the time this year with a start up capital of USD 500million.

Hammered out over the past year in protracted negotiations between Gibraltar, Britain and the European Commission, an agreement to extend the tax exempt status of 8,464 Gibraltar registered companies until December 2010 removes much uncertainty hanging over Gibraltar’s Finance Centre.

On 1 February 2024, a Bill was published to extend the taxation of interest income in Gibraltar to Insurers and DLT (Distributed Ledger Technology) firms.

Hassans International Law Firm has announced that a judgment on the 20th March 2015 from the Supreme Court of Gibraltar has established a legal precedent for setting Gibraltar trusts aside on the grounds of mistake.

Gibraltar is an appealing jurisdiction for individuals who wish to enjoy a Mediterranean life style.

Reflecting Gibraltar’s strong and continuing economic growth, this year’s Budget, presented to Parliament by the Government at the end of June, provides a time-table for the long-awaited introduction of a low corporate tax regime. And while an immediate 2 per cent reduction in the tax paid by tax resident companies – from 35 to 33 per cent – has disappointed the local business community, they and investors will take some consolation from the fact that the Government committed to a timetable to

Last week, 136 out of 140 members of the OECD/G20 "Inclusive Framework" which represents more than 90% of global GDP and includes Gibraltar, agreed on key parameters for a new framework for international corporation tax with the aim of implementation of the new rules by 2023.

In the 2012 UK budget the government announced proposed changes to the taxation of UK residential property held by offshore entities.

The main features of the Gibraltar Tax system are as follows - No wealth tax, no inheritance tax, no capital gains tax and, in particular, no VAT.

As previously communicated, the Organisation of Economic Development and Co-operation's (OECD) Common Reporting Standard (CRS) for the AEoI came into force from 1 January 2016.

If you have not been resident in the UK for five years or intend not to be resident for five years, transferring your pension out of the UK can result in large UK tax savings.

Last month I looked at some of the reasons why property prices in offshore jurisdictions such as Gibraltar are holding steady, while those across the border in Spain are heading south.