About Jimena de la Frontera, the province of Cadiz and Spain as a whole, focused on this small village in the mountains

Gibraltar tax reform may be put back to September

petercaruanaterrace_typicallyS (Agencies) In an answer to a Parliamentary Question, Chief Minister Peter Caruana (photo) said that the target for publication of a consultation document on corporate tax reform could be held back until September. “The target [for publication] remains July this year, but it may slip until September,” Mr Caruana told Parliament. Answering further questions from opposition MP Fabian Picardo, the Chief Minister revealed that Government had closed negotiations for tax information sharing agreements with several countries, adding that Gibraltar is also in “very advanced negotiations” with numerous other countries.>

The talks are taking place against the background of an international clampdown on tax dodgers and offshore jurisdictions.
The OECD nations want to ensure high standards on these matters and tax information sharing agreements form a key part of the strategy.
Gibraltar, in common with other countries on the OECD’s ‘grey list’, must sign 12 such agreements by November in order to move up into the top category of reputable jurisdictions.
Mr Picardo asked the Chief Minister about Gibraltar’s progress on this issue, reminding him that rival jurisdictions such as Bermuda were moving fast to close tax agreements with other countries.
“We are moving very quickly and I am confident that we will have the necessary number of agreements, and more, in very good time,” Mr Caruana replied.
He said it was not in Gibraltar’s best interests to provide details of the negotiations at this stage, including which countries were involved.
Gibraltar has so far signed one tax information sharing agreement, with the US.


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