The current regime allows foreign companies based in Gibraltar, but which do business outside its borders, to pay a low flat fee rather than the 35% tax rate for resident companies.
‘This is a selective tax relief that benefits only few companies. As such it violates EU state aid rules,’ Tilman Lueder, spokesman for the European Union’s head office, told AP.
Iberia News reports that the news has not yet been fully confirmed with the government of Gibraltar.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states