CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Decision On Transitional Regime For Gibraltar Exempt Companies Expected Early Next Year

Decision On Transitional Regime For Gibraltar Exempt Companies Expected Early Next Year

by Jason Gorringe, Tax-News.com, London

16 December 2004


A decision by the European Commission on the transitional arrangements for exempt companies in Gibraltar, which apply while the European Court decides on alternative tax proposals, will not be made until early in 2005.

Sources within the EU confirmed to the Gibraltar Chronicle that there will be no announcement made on the issue this week following a meeting of Commissioners in Strasbourg, as the item was not on their agenda.

Earlier in the year, the European Commission decided that Gibraltar effectively constituted part of the UK and therefore new tax measures introduced as part of the jurisdiction’s offshore regime must be dismantled.

The new measures abolish the 35% corporate tax rate, replacing it with a payroll tax and a business property occupation tax - both capped at 15% of profit.

The Gibraltar government is attempting to contest the decision in the European Court of Justice.

A comprehensive report in our Intelligence Report series giving background tax and residence information on many of the key offshore jurisdictions is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report4.asp

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »