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- Taxation in Gibraltar is determined by the law of Gibraltar which is based on English law, but is separate from the UK legal system. Companies and non residents do not pay income tax unless the source of this income is or is deemed to be Gibraltar. Individuals pay tax on a worldwide basis on income from employment or self employment if they are ordinarily resident in Gibraltar. There is no tax on capital income. In Gibraltar there is no capital gains tax, wealth tax, sales tax or value added tax. Import duty is payable on all items at 10%. The main tax for companies is Corporation Tax, and Social insurance contributions. There are also stamp duties on certain transactions, and property taxes ('rates').Gibraltar benefits from an extensive shipping trade, offshore banking, and its position as an international conference center. It is a well known and regulated international finance centre and has been a popular jurisdiction for European offshore companies. The financial sector, tourism, shipping services fees, and duties on consumer goods generate revenue. Non-resident companies can take advantage of a number of offshore regimes in order to reduce taxation, although in line with the elimination of unfair tax practices this is being phased out. Individuals pay quite high taxes on their income in Gibraltar unless they are able to take advantage of high-net-worth individual status or gain exemption as an expatriate executive. Import duties are quite high on some items. Assessment and collection of tax is administered by the Commissioner of Income Tax; the tax year runs from 1 July to the following 30 June. The information in this article is taken from the publication "Gibraltar Tax facts". It may be incorrect or out of date. For the latest data see the Government of Gibraltar website listed in external links. (en)
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- Taxation in Gibraltar is determined by the law of Gibraltar which is based on English law, but is separate from the UK legal system. Companies and non residents do not pay income tax unless the source of this income is or is deemed to be Gibraltar. Individuals pay tax on a worldwide basis on income from employment or self employment if they are ordinarily resident in Gibraltar. There is no tax on capital income. Assessment and collection of tax is administered by the Commissioner of Income Tax; the tax year runs from 1 July to the following 30 June. (en)
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- Taxation in Gibraltar (en)
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