Taxation logo taxation mission text

Since 1927 the leading authority on tax law, practice and administration


02 February 2005
Issue: 3993 / Categories: News
European Commission press release IP/05/80 dated 21 January 2005



The European Commission has formally requested the United Kingdom to abolish the exempt company tax régime in Gibraltar by the end of 2010 because the scheme violates the EC Treaty's ban on state aid liable to distort competition. By this request which takes the form of a recommendation and follows extensive negotiations the Commission intends to put a definitive end to the last offshore tax régime in Gibraltar.


The UK has one month to accept these appropriate measures failing which the Commission may open a formal state aids investigation.


Under the régime a company registered in Gibraltar as an exempt company is subject to a fixed annual tax of between £225 and £300. It is exempt from any further taxation in Gibraltar. An exempt company may not conduct any trade or business within Gibraltar. No Gibraltarian or Gibraltar resident...

If you or your firm subscribes to, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.

Please reach out to customer services at +44 (0) 330 161 1234 or '' for further assistance.

back to top icon