Gibraltar income tax is payable on Income from activities and sources in Gibraltar. Persons who are permanent Residents of Gibraltar also pay tax on certain types of income from foreign sources.
The tax is paid in the lower of the two, calculated under the two alternative methods:
The following rates apply to income after certain exemptions and deductions have been applied The following progressive rates apply: 14% on the first GBP 4 000, 17% on the For the next GBP 12 000, 39% for the excess. No tax is payable on income up to. GBP 11 450 no tax is payable.
On gross income (without benefits but with certain deductions) The following progressive rates apply:
Companies pay tax on income generated Gibraltar.
The income tax rate is 12,5%.
Companies that provide utilities, companies, Energy supply companies and companies abusing a dominant position in the market, pay a tax rate of 20%. Telecommunications companies can apply a 12,5% rate to profits not from telecommunications activities.
Capital gains and dividends are not taxed tax.
Control of a foreign company arises when ownership of 50% or more of the capital, voting rights or rights to distributions of profits foreign company. If the CFC pays income tax at a rate of less than 50% tax that would be payable on such profits in Gibraltar, and the use of the foreign company is intended to evade tax, the undistributed profits of the CFC must be taxed with the shareholder company in Gibraltar.
No withholding tax is levied in Gibraltar (except Except for payments to contractors in the construction business).
Social contributions are paid by employees at the rate of 10% on of the amount of remuneration but not less than 6,05 GBP and not more than 32,25 GBP per week.
Employers pay social contributions at the rate of 20% on the amount of remuneration, but not less than 18,15 GBP and not more than 40,15 GBP per week.
Taxes are paid on commercial property at Different rates depending on the type of property.
Stamp duty is levied on real estate transactions, located in Gibraltar with shares in companies with such real estate. The fee is calculated at different rates depending on the market value property.
Gibraltar has 19 Tax Information Exchange Agreements (TIEA) with the following jurisdictions:
19 TIEAs: Australia, Austria, Belgium, Denmark, Faroe Islands, Finland, France, Germany, Greece, Greenland, Iceland, Ireland, Netherlands, New Zealand, Norway, Portugal, Sweden, United Kingdom, United States.
Gibraltar has not yet signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI).
In general, there are no restrictions on foreign exchange transactions
There are no restrictions on currency transactions in general.