- Incremental Tax Rates: The Transaction Tax will be implemented with a 15% rate in the first year, increasing to 16% in the second year, and reaching 17% in the third year, with potential adjustments based on market distortion assessments.
- Goods Exemptions and Reduced Rates: Certain goods will benefit from reduced VAT rates (5% and 0%) or be exempt from the transaction tax altogether, including essential items like food, medical supplies, and specific maritime-related goods.
- Excise Duties and Market Control: Excise duties will be applied to tobacco, alcohol, and fuel at EU minimum levels, alongside measures to combat the illicit tobacco market and promote public health initiative
Source gibraltar.gov.gi
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