Gibraltar Government Not Willing To Discuss Changes To Tax Regime

Iberia News

21 February 2001

This story is reproduced by kind permission of Iberia News at http://www.iberianews.com

The Government has stated that the changes to be undertaken on taxes are presently being reviewed by the Gibraltar Government and have as yet not been concluded. Asked during yesterday's House of Assembly if he could comment on an overall view of what the changes would be, the Chief Minister stated he could not comment on changes so as not to prejudice the finance centre's position, especially considering that the changes were major policy changes.

He further added that the OECD demands were not the only ones being looked at, indicating that there were a variety of international initiatives which needed to be considered during the changes. Although the changes have not been formally given to the OECD through a letter of commitment, the government has indicated to the OECD through discussions and negotiations that it will comply with the OECD demands and will be willing to offer it's public letter of commitment. The letter has as yet not been issued because it is felt that due to discussion still going on it is premature to make this letter public and that advantages of seeing what is being agreed to is far better than agreeing to soon without full knowledge of what the final outcome will be on the discussions.

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