Gibraltar: Tax Treaties

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Adrian Pilcher, Senior Associate – Stuart Dalmedo, and Associate – Julian Warwick, have contributed to the latest edition of Chambers Corporate Tax Global Practice Guide.

The Tax Treaty between Spain and Gibraltar came into effect on 4th March 2021, the taxable period of which will come into force in Spain as from 1 January 2022.

Throughout 2013 tax authorities across the world have been falling over themselves to sign up to new inter governmental agreements for one simple reason –to enable states to get information about the income (earned or passive) its taxpayers generate abroad.

While not as dramatic as anticipated, Gibraltar’s recent budget provides a timetable for the long-awaited introduction of a new low corporate tax regime, says Michael Castiel, partner at Hassans.

Although it may be as long as three months before Gibraltar learns whether or not its tax case against the European Commission has been successful, this week’s four and a half hour hearing of oral evidence before the European Court of Justice in Luxembourg has strengthened a sense of quiet optimism about the outcome among the Government’s legal team. A ruling in Gibraltar’s favour will open the door to a new tax structure that, it is widely believed, will see the application of an across-the-bo