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Spain Moves Tax Goalposts For E-Gaming Firms 5/27/2012 The Spanish tax authority has required that online operators with customers in Spain pay back-taxes under two historic laws that previously were not applied to offshore online gaming.
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Gibraltar-Spain Tripartite Forum Abandoned? 5/17/2012 The Gibraltar government has said that the introduction of a new Spanish government of the People's Party
has caused the disintegration of the tripartite forum between Spain, Gibraltar
and the United Kingdom. The Forum had previously been credited with yielding improvements in relations
between Gibraltar and Spain after more than a century of fractious relations.
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Gibraltar Proposes Law Change To Offer UK QROPS 5/15/2012 The Gibraltar government has published a Bill that would amend the territory's
legislation to allow local practitioners to offer Qualifying Recognised Overseas
Pension Schemes under a regime compliant with new rules set by the UK tax authority,
HM Revenue and Customs.
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Gibraltar Promotes E-Gaming Specialism In US 5/9/2012 The Gibraltar government has sought to improve relations and expand on business
opportunities with United States regulators, operators and businesses, with a delegation led by the Rock's
Minister with responsibility for gambling, Gilbert Licudi, to the GiGse Totally
Gaming conference in San Francisco.
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Gibraltar Consults Industry On Transparency Enhancements 4/24/2012 The Gibraltar government is seeking input from the finance industry to help it form a response to recommendations received from the Organization for Economic Cooperation and Development on improvements deemed necessary to the territory's fiscal transparency frameworks for the exchange of tax information.
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Gibraltar Accepted Into International Audit Forum 4/6/2012 The Gibraltar Financial Services Commission has announced that it has been accepted to join the International
Forum of Independent Audit Regulators.
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Gibraltar Continues Financial Sector Support To Africa 3/30/2012 Gibraltar's Financial Services Commission has announced the recent completion
of two further assignments as part of an initiative to assist international
improvements in financial sector supervision, particularly in African nations.
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UK Confirms Gambling Tax Changes 3/27/2012 Offshore gambling firms have been dealt a blow in the United Kingdom's latest
Budget which amends the tax rules applicable to the supply of gambling services
to the UK market. Wagers will now be taxed on a point-of-consumption
basis, bringing offshore operators under the UK tax net.
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Gibraltar Government To Back Finance Industry 3/23/2012 To mark one hundred days in office, the Gibraltar government has made a number
of pledges that it will fulfil during its term, many of which are pertinent
to taxpayers and the financial services sector.
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Gibraltar Puts Court Judgements Online 2/24/2012 The Gibraltar government has announced the launch a web portal to provide users with access to electronic
copies of Supreme Court, Court of Appeal and Privy Council judgements, as an enhancement to the existing Gibraltar Laws website.
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Gibraltar, South Africa Sign TIEA 2/6/2012 Gibraltar's Minister for Financial Services, Gilbert Licudi, has welcomed the signing
of the territory's 20th tax information exchange agreement, with South Africa.
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Gibraltar To Announce Fresh Fiscal Measures 1/31/2012 The incoming Gibraltar government has warned that the previous administration
significantly understated the extent of Gibraltar's deficit, triggering the need
for corrective fiscal measures this year.
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Gibraltar Defends Its Interests In London 1/30/2012 Gibraltar's Chief Minister Fabian Picardo has met with the UK Minister for Tourism and Heritage, John Penrose, to question the rationale behind the UK government's plans to introduce a licensing regime for remote gaming operators, contained in the Remote Gaming Bill which may soon be tabled before the UK's parliament.
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Malta Signs TIEA With Gibraltar 1/27/2012 Malta has welcomed the signing of a Tax Information Exchange Agreement with Gibraltar,
which will provide both countries with tax information on request when there is evidence of fiscal crime.
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Report Criticizes UK Gambling Tax Proposals 1/10/2012 UK government proposals to tax gambling operators on a point-of-consumption basis to boost revenues and enhance UK oversight of gambling operators could be self-defeating, according to a new report compiled by Deloitte on behalf of UK bookmarker William Hill.
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Gibraltar To Redraft Companies Act 12/29/2011 The Gibraltar government has commissioned a draft bill to replace the territory's Companies Act, which dates back to the year 1930.
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Guernsey Looks Set To Retain Zero-Ten Corporate Regime 12/29/2011 The European Union's Economic and Financial Affairs Council's endorsement of the
comparable tax regimes of the Isle of Man and Jersey is providing greater certainty
over Guernsey's future tax regime.
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Gibraltar's Tax Sovereignty 'Unaffected' By EU Ruling 11/21/2011 A recent ruling from the European Court of Justice has been welcomed by the Gibraltar government as confirming the territory's right to have a tax regime different from that of the United Kingdom's.
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Gibraltar Clarifies Tax Position Of UK Pensions 11/8/2011 The Gibraltar government has dismissed the possibility that the authorities could
enter into an agreement with the UK government to allow Gibraltar residents in
receipt of a UK pension to receive tax exemptions now available on Gibraltar pensions.
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India Rapidly Expanding Tax Agreement Network 10/17/2011 India is playing a major role in the global crusade against black money and has completed negotiations for 16 new tax information exchange agreements, according to the chairman of the Central Board of Direct Taxes M C Joshi.
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Guernsey Delays Corporate Tax Decision 9/30/2011 Guernsey Chief Minister, Lyndon Trott, has clarified the government's position
on the island's corporate tax regime in an address to the States of Deliberation.
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Gibraltar Assists African Financial Services Regulators 9/23/2011 The Deputy Chief Executive Officer of the Gibraltar Financial Services Commission, David
Parody, has recently returned from Mombasa, Kenya, where he delivered a workshop
for the Board of the Kenyan Insurance Regulatory Authority funded by the
Authority itself.
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UK To Challenge EU Ruling On Gibraltar Waters 7/20/2011 The UK Foreign Secretary William Hague has said the UK government will challenge
the European Commission over a ruling in favour of Spain in order to uphold the UK's position over the waters around Gibraltar. Spanish territorial claims are said to have been given legal credibility under the guise of environmental protection.
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Gibraltar Cuts Income Tax 7/11/2011 Peter Caruana, Gibraltar's Chief Minister, has released his budget for the fiscal
year 2011/12, which introduces a number of rate and threshold changes to the
personal income tax system, among other changes.
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Gibraltar Shuts Down Illicit Money Dealers 6/14/2011 Backed by the Gibraltar Police, the Financial Services Commission has carried out
a targeted crackdown on retail outlets undertaking unlicensed Bureau de Change
business, leading to several arrests, it has been announced.
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Spain Flexes Muscles In Gibraltar Waters 5/16/2011 Disputes over international waters around Gibraltar and Spain should not lead
to inefficient monitoring and prevention of crimes around the coast of the two
territories, an official statement from Gibraltar's government has said, urging
cooperation between the maritime officials of both countries.
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Gibraltar Transposes Capital Requirements Directive 5/10/2011 The Gibraltar Financial Services Commission has announced the adoption of the
Financial Services (Capital Adequacy of Credit Institutions) (Amendment) Regulations
2010, and has noted a number of salient changes which will primarily affect entities
involved in cross-border banking and investment firms.
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Investors Reassured After HMRC's QROPS Attack 5/4/2011 Investors should not be deterred from investing via a Qualified Registered Overseas Pensions structure after the UK tax authority, HM Revenue and Customs, closed a tax loophole created by a new double taxation treaty with Hong Kong, according to a leading offshore pension provider.
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Gibraltar's Tax Regime Backed By EU Court Advisor 4/14/2011 Chief Minister Peter Caruana has expressed satisfaction at the Advocate General’s
Opinion in the European Union tax case which he said is 'entirely favourable' to Gibraltar’s position both on the issues of regional selectivity and material selectivity.
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Gibraltar, Spain Tax Agreement Progressing 4/13/2011 Gibraltar Chief Minister, Peter Caruana has announced that negotiations towards a bilateral tax information exchange with
Spain are ‘very advanced’.
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Offshore Banking Body Rebrands 4/11/2011 Having broadened its role as a representative on behalf of numerous offshore financial centres in issues pertaining to financial sector regulation and best standards, the
Offshore Group of Banking Supervisors has decided to rebrand itself the
'Group of International Finance Centre Supervisors’.
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New E-Gaming Giant Set For Gibraltar Move 3/24/2011 E-gaming companies, PartyGaming and bwin have received shareholder approval
to merge to create the world’s largest listed online gaming business,
based in Gibraltar. Subject to approval from the Gibraltar Supreme
Court, the merger is expected to be completed on March 31, 2011.
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Betfair In Gibraltar Move 3/10/2011 The gaming operator Betfair is to cease operations under a British gaming licence with effect from March 9, making it the latest operator to leave the UK after a steady stream of exits in recent years.
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Gibraltar FSC Member Resigns 2/2/2011 The Gibraltar Financial Services Commission has announced the resignation of
Robert Vasquez, a Commission Member, following debate on the introduction of
rules to prevent those with political involvement from holding policymaking
roles within the Commission.
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SEC Thanks Gibraltar 1/27/2011 The United States financial regulator, the Securities and Exchange Commission
has publicly thanked the Gibraltar Financial Services Commission for its assistance
in bringing charges against a number of persons allegedly involved in ‘a massive
life settlement bonding fraud’.
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UK Tax Agreements In Force 1/12/2011 Tax agreements between the UK and Gibraltar, the Cayman Islands and Germany have recently entered into force, the UK tax authority, HM Revenue and Customs, has announced.
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Gibraltar FSC Wins Compensation For RFSL Investors 1/6/2011 In a first of its kind judgment, the Supreme Court of Gibraltar has granted
an application by the Financial Services Commission to enforce the liquidation
of the assets of Rock Financial Services Limited, to pay restitution to investors.
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Gibraltar Confident Of Tax Court Victory 11/16/2010 The Gibraltar government has said that it is confident of victory in the appeal
heard by the Grand Chamber of the European Court of Justice on
November 16, brought by Spain in a challenge to Gibraltar's fiscal autonomy from
the UK's tax regime.
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Gibraltar Seeks Quality Over Quantity 10/4/2010 Gibraltar’s Chief Minister, Peter Caruana, speaking to reporters whilst attending the UK Labour Party’s annual conference in Manchester, said that Gibraltar had successfully reformed the territory into a leading financial services hub, abandoning the image of a European ‘tax haven’.
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Colombia, Portugal Sign DTA 9/6/2010 A double taxation agreement signed between Colombia and Portugal adds to those already concluded by Colombia with Spain, Switzerland, Chile, Canada, Mexico and South Korea.
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Gibraltar Rebukes Spanish Road Toll Road Plans 8/18/2010 The Gibraltar government has lashed out against plans by neighbouring Spanish
province La Linea to implement a road toll tax on vehicles entering and leaving
the Rock.
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Gibraltar To Land Largest E-Gaming Firm 8/3/2010 E-gaming companies, PartyGaming and Bwin have announced the signing of a merger implementation
agreement to create the world’s largest listed
online gaming business, based offshore, in Gibraltar.
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William Hill Moves Telebetting To Gibraltar 7/27/2010 UK bookmaker William Hill has announced that it is to transfer its telephone betting operation to Gibraltar because the UK's tax regime makes it 'impossible' for the company to compete with offshore telebetting firms on an equal footing.
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Netherlands To Sign TIEAs 7/7/2010 The Dutch government has united on plans put forward recently by Dutch Finance Minister Jan Kees De Jager to conclude tax
information exchange agreements with Uruguay, Mauritius and Brunei, in a
further endeavour to combat tax evasion.
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Gibraltar Publishes CIT Act 6/23/2010 On June 16, the Gibraltar government published the new Income Tax Act, which
codifies the new corporate income tax regime to enter into force from January
1, 2011.
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Gibraltar Ready To Conclude Spanish TIEA 5/10/2010 Gibraltar’s Chief Minister, Peter Caruana has underlined the territory’s willingness to enter into a Tax
Information Exchange Agreement with Spain as soon as possible.
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India Opens Way To HK Treaty 5/4/2010 The Indian government has included the Hong Kong Special Administrative Region of the People’s Republic of China in its notification process of ‘specified territories.'
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Gibraltar Hikes Import Duties 4/30/2010 The Gibraltar government has announced hikes to import duties on cigarettes, fuel and alcohol, effective since April 28, 2010.
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Offshore Gambling Websites Win French Case 4/20/2010 Three of France's largest casino groups who joined together to sue several online casino operators with the objective of blocking any licensing to the defendants for at least two years have had their case dismissed by the French courts.
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UK To Enforce Horseracing Levy 4/19/2010 The Labour government has asserted that it will crack down
on gambling companies with operations in offshore territories that target the
UK market but do not contribute to the industry's upkeep via the UK’s Horse Racing Levy.
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India To Sign Offshore TIEAs 4/16/2010 The Indian government will proceed with negotiations towards tax information exchange agreements with nine low-tax jurisdictions.
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UK Consults On Remote Gambling 4/8/2010 The UK Department for Culture, Media and Sport has launched a consultation on the licensing of online gambling, underlying which has been the increasing trend for UK operators to move offshore and for UK gamblers to use offshore sites.
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Guernsey Leads In Captive Insurance 3/24/2010 Two new studies have reaffirmed Guernsey’s position as the leading captive
insurance centre in Europe, and among the top four in the world.
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Gibraltar FSC Clarifies Rules Surrounding Appointed Representatives 2/24/2010 The Gibraltar Financial Services Commission has responded to insurance intermediaries'
request for clarification regarding requirements in relation to the appointment,
by them, of Appointed Representatives.
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