Companies in Gibraltar

A new corporate tax regime will become operational as from July 2003 that will ensure the continued attraction of Gibraltar as a finance centre, while complying with EU legal factors and other international initiatives. Under the positive new system, profits tax on Gibraltar companies - whether 'offshore' or resident - will be zero-rated. Resident Gibraltar companies do, however, pay a Payroll Tax and Business Occupation Tax which is jointly taxed at 15% on profits. Moreover, all companies will pay an annual companies registration fee of £300 per annum (should the company have income) or £150 (if there is none). Financial Services Providers and Utility Companies - subject to EU clearance under State Aid Rules - fall into a category of their own, paying 8% on profits and, on an aggregated basis, up to 15% on tax overall.

Contact: Isaac S. Marrache