Gibraltar has, in the words of its Chief Minister, Peter Caruana, finally managed to do away with its image as a fiscal paradise. It’s taken us 15 years, he said, but we’ve finally managed to do it.
Caruana was speaking in Seville this Thursday, at the Forum Europa organised by Nueva Economía Forum. He said Gibraltar strictly complies with all the international and European financial regulations, ‘although the rest of the world does not share this view of our economy’.
Reporting on the meeting, Nueva Economía Forum said Peter Caruana announced during his speech that, from 1st January, a new law will come into effect to equalise tax rates between Gibraltarians and non-residents, with a rate of 10% for all.
The Chief Minister noted fiscal agreements with more than 20 countries, including the United States and the leading countries of the European Union. He added, ‘We’ve invited Spain to join in with these agreements on fiscal policy, but they did not consider it necessary’, and continued, ‘Gibraltar has neither the need nor the aim of being a Financial Centre which its neighbour sees as going against their
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