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NEW COMMEMORATIVE COINS

The Gibraltar Morocco Business Association recently organised ceremonial activities to officially launch a brand-new coin range. This was issued by the Gibraltar Mint to commemorate the long lasting relationship between the Kingdom of Morocco and the British Overseas Territory of Gibraltar.

The Gibraltar Morocco Business Association recently organised ceremonial activities to officially launch a brand-new coin range. This was issued by the Gibraltar Mint to commemorate the long lasting relationship between the Kingdom of Morocco and the British Overseas Territory of Gibraltar.

The coins depict Commander Tariq Ibn Ziyad in front of the Rock of Gibraltar, and on the second coin the Mons Calpe Ferry and GB Airways, two methods of transports which proved to be Gibraltar’s life line during the days of the Gibraltar-Spain frontier closure. The effigy of Her Late Majesty Queen Elizabeth II is depicted on the obverse.

This not only included the coins, but also a visit by the Gibraltar Sea Scouts Group and Pipe Band to Tangiers. This was in part a throwback to remind Moroccans of the 1980s when the same band was a familiar sight.


New tax professionals’ organisation launched in Gibraltar

A new tax professionals’ organisation, the Gibraltar Association of Tax Advisers (GATA), was formally launched on Friday 17 February after holding an inaugural meeting at the offices of Hassans attended by the founding Chartered Tax Advisers based on the Rock.

The objective of the group is to promote the profession of tax adviser whether by publicly highlighting issues relevant to tax, by promoting tax education amongst the relevant professions and the public in general and encouraging and facilitating those who work in tax relevant professions or who have an interest in tax to undertake study for qualifications relevant to the profession of tax adviser within Gibraltar.

Grahame Jackson, newly appointed Chair of GATA, commented: 

“The profession of tax adviser is distinct from the professions of accountant or lawyer, and whilst there is much overlap between the three professions, the founding members believe that it would be beneficial to Gibraltar and the profession of tax adviser in Gibraltar for there to be a professional organisation which represents and promotes the profession of tax adviser.

This is particularly important at time when the profession of “tax adviser” grows in its international profile and the global taxation system becomes ever more complex. We are looking forward to working with all relevant well-established organisations, towards common goals involving taxation.”

Membership of GATA is open to anyone who holds either the Chartered Tax Adviser qualification or the Advanced Diploma in International Taxation or who are Fellows of the Chartered Institute of Taxation or any equivalent qualification issued by a national institute of taxation representing the profession of tax adviser in the relevant jurisdiction. 

In the first year of operation there will be no fee to join, an open invitation stands to all those who meet the entry requirements and who are interested in joining. Interested professionals are requested to email gibraltarata@gmail.com for more information.


Private Upper Town properties

The Minister for Housing, The Hon Steven Linares MP, together with the Principal Housing Officer, Geraldine Reading, met with Action for Housing’s Mr Henry Pinna, Ms Zohra El Gharbaoui Ariba and Mr John Calderon to view properties in the Upper Town and back streets. They also took the opportunity to meet with some of the tenants of these privately rented flats and see first-hand how their lives are being affected by their living conditions.

Minister Linares maintains that the construction and sales of affordable housing, together with the construction of rental flats specifically designed for the elderly, is the way forward. This maximises the return of existing Governmental Rental flats to the housing department’s stock for subsequent allocation alleviating both the housing waiting list and its waiting time.

Minister Linares took this opportunity to encourage members of the public to anonymously report seemingly vacant Government flats to the Housing Department’s hotline on 200 40040 or via email to housing@gibraltar.gov.gi so that these can be investigated.


GREYLIST Delisting

On 17th June 2022, the Financial Action Task Force (FATF), surprisingly identified Gibraltar as a jurisdiction under increased monitoring in respect of two financial points.

The FATF Action Plan that resulted urged Gibraltar to complete improvements and compliance by May 2023.

In December 2022, ahead of the May 2023 deadline, Gibraltar voluntarily sent an update report so that it could be considered by the review team and the progress made be taken into account.

HM Government of Gibraltar has reported that the FATF has agreed that:

1.
Supervisors in Gibraltar are now using a range of effective, proportionate, and dissuasive sanctions for AML/CFT breaches.

2.
Gibraltar should continue to show that it is able to pursue more final confiscation judgments commensurate with the risk and context of Gibraltar.

In other words, this means that the original two point Action Plan has now been reduced to one, regarding the pursuit of more final confiscations.

The Gibraltar authorities will next report on further progress this coming May 2023, which is in accordance with the timeframe set by the FATF.

HM Government of Gibraltar has reiterated that it continues to work closely with the FATF.

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