On 17 October it was confirmed that a double tax treaty will come into place between the UK and Gibraltar. This will be the first double tax treaty agreed between the two countries.
The new double tax treaty is expected to come into effect on the 1 July 2020, after all legislative procedures have taken place on both sides. The treaty will cover UK income tax, corporation tax and capital gains tax and in Gibraltar it will cover income tax and corporation tax.
If you have any questions relating to the above please do reach out to your contact at BDO.
Andrew Bailey
andrew.bailey@bdo.co.uk