- Gibraltar introduces a new transaction tax replacing import duties
- Tax agreed in negotiations with the UK and EU post-Brexit
- Initial tax rate set at 15 percent, increasing annually to 17 percent
- Tax applies when the new EU treaty is effective
- Removal of border restrictions with Spain in exchange for tax
- Annual monitoring to assess tax impact on consumer decisions
- Reduced tax rates for certain goods, zero rate for essentials
- Exemptions for specific goods and services related to shipping and aviation
- Excise duties introduced on tobacco, alcohol, and fuel
- Consideration of stamp duty exemption for family reorganizations with a six-month policy review
Source: answerconnect.cch.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
