Double Taxation treaty with UK

in Business Insight

Gibraltar and the UK have completed a Double Tax Agreement. It forms the result of several years’ work and was agreed in September.

Commenting on the signing of the Agreement, the Chief Minister, Fabian Picardo QC, stated, “I am very pleased that the outcome of close working with UK ministers and officials has come to fruition in time for our exit from the European Union with the United Kingdom. This is an important part of the architecture of our planning for “no deal” but equally important going forward in any scenario. I want to thank the team of officials from the Income Tax Office, in particular the Commissioner of Income Tax John Lester, his Legal Counsel Terence Rocca and Financial Secretary Albert Mena for their hard work and diligence in delivering this great result for Gibraltar.”

The Exchequer Secretary to Her Majesty’s Treasury, Simon Clarke MP, said, “Gibraltar is an important part of the UK family and I am pleased to take this opportunity to make our relationship stronger, as we look forward to the opportunities ahead as we leave the EU.

“Today’s exchange of letters on a double tax agreement between us will promote trade and investment, and help tackle tax avoidance.”