This story is reproduced by kind permission of Panorama at http://www.panorama.gi
Gibraltar's tax system is to be overhauled in a major way to remove the existing discrimination between residents and non-residents. This forms part of the Gibraltar government decision to meet the OECD requirements on harmful tax practices.
The government here,
in consultation with the finance centre, has been doing considerable
preparatory work "and we are confident we shall be able to
give the undertaking that is required of us...by modifying our
tax system and our laws," said chief minister Peter Caruana.
This would be done in a way that "will completely enable
our finance centre to survive."
Mr Caruana said that it was "absolutely essential" that
the problem be resolved, as non-compliance with OECD requirements
would put Gibraltar on a black list, with a series of sanctions
that could make it incapable of operating.
We are in a position where we have to act, he added. The government would be taking action by compulsion.
.
Network Tweets Archive
| Resources | Partners
| Site Map | Links
| Newsletter
Archive | Contact
| RSS Feeds
About | Syndication |
Advertising & Marketing |
Recruitment |
Terms & Conditions |
Privacy
Copyright © 2012 - All Rights Reserved - Tax-News.com
All content provided by BSI Media
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment