Paying Taxes in Gibraltar

A presentation brought to you by our specialists in Gibraltar

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A Low Taxation Regime in Gibraltar

Gibraltar has a low taxation regime and this is one of the key characteristics that bring foreign investors to the country.

The Gibraltar Pound (GIP) is the official currency in the state. Companies and individuals have to observe the current tax rates and prepare annual financial statements.

Corporate Taxation in Gibraltar >>

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Corporate taxation is based on residency. A company is considered a tax resident if it is managed and controlled in the country.

The income produced by the company in Gibraltar is taxed at the usual rate.

>> Corporate Taxation in Gibraltar

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The corporate tax rate in Gibraltar is 10%. Those companies that are thought to have a dominant position on the market are subject to a higher rate.

Branches in Gibraltar are taxed the same as local companies and non-resident companies only pay income tax on the profits derived from the country.

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Other Corporate Taxes in Gibraltar

Other taxes for companies in Gibraltar include:

• social security,• stamp duty.

Gibraltar has no withholding taxes on dividends, royalties and interests and has no capital gains tax. The country does not impose value added tax.

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Personal taxation in Gibraltar >>

Individuals are taxed on their worldwide income if they are residents and only on their Gibraltar income, if they are non-residents.

Trade and employment income derived from Gibraltar is taxable. The country does not impose capital duty on individuals nor a real property tax or an inheritance tax.

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>> Personal taxation in Gibraltar

Two types of taxation systems apply for individuals:

• the gross income-based system: with rates from 6% to 28%;

• the allowance-based system: with rates from 15% to 40%.

Our company registration experts in Gibraltar can help you choose the one with the lowest tax liability.

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Tax Compliance in Gibraltar

The tax year in Gibraltar is from 1 July to 30 June the next year both for companies and for individuals. Companies must divide their accounting period if it is larger than 12 months.

Surcharges apply for late corporate and individual tax payment as well as for errors and omissions.

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Corporate Tax Compliance in Gibraltar

Legal entities in Gibraltar must file their tax returns within six months from the end of the accounting year.

The applicable accounting principles are the International Accounting Standards and the Gibraltar Generally Accepted Accounting Principles. Our experts can help you with tax minimization in Gibraltar.

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Assistance for Tax Compliance in Gibraltar

With low tax rates, no value added tax and no withholding taxes on dividends, Gibraltar is considered a good location to base a business.

For more details on how to open a company in Gibraltar and the requirements for investors, you can contact our specialists.

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Thank you for your attention!

For more information please contact us at:

 (+44)203-287 0408 (for international clients)office@bridgewest.eu

http://www.companyformationgibraltar.com/