The tax advantages that Gibraltar 'sells' to remove investors from Spain n...
Corporate tax and a super-reduced personal income tax The chief minister of Gibraltar, Fabian Picardo, is on a road show in the main financial centers of Europe. El Peñón has proposed to attract investors to Spain, offering them succulent tax advantages so that they decide to settle there: not having to pay VAT, or Corporation Tax and a super reduced Personal Income Tax. He also wants to take them away from the metropolis, the United Kingdom. Gibraltar will not be able to use the stadium it now occupies for UEFA matches: the Government remembers that it is on Spanish territory | 3As El Confidencial Digital has learned, Picardo 's last meeting with investors took place just a few days ago and in the City of London , one of the most important financial centers in the world.The chief minister seeks to attract potential investors to the Rock , at the cost of 'stealing' them mainly from Spain and the United Kingdom. And for this he is offering them important tax advantages to try to convince them. The tax scenario that Picardo 'sells' These are the main tax advantages that Gibraltar is willing to apply to directorsMiddle East Mobile Number Listand fund managers who decide to settle on the Rock: -- Not paying VAT , when in Spain the maximum is 21% and in the United Kingdom it is 20. -- Be exempt from Corporate Tax . -- A super reduced personal income tax , far from the 52% established in Spain for the highest bracket and the 45% in the United Kingdom. Accuses Spain of “destabilizing” Gibraltar Picardo maintained before the foreign investors who heard him in London that the accusations of being a tax haven are made by a “belligerent” Spain “ to destabilize Gibraltar .
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The chief minister has been trying for several months to erase the image of the Rock as a tax haven in which many companies take refuge, even with stays in Madrid recently , and takes advantage of this type of meetings with senior executives and journalists to insist on that point. The idea that he wants to get across to investors is that Gibraltar has made great progress in the fight against tax fraud . It also states that it is willing to take additional steps, such as joining global and automated information exchange systems, such as the Foreign Account Tax Compliance Act (FATCA) in the United States and the exchange pilot program automatic multilateral tax reporting announced by the United Kingdom, France, Germany, Italy and Spain .
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