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Borealis Exploration Limited Message Board

  • frogfather44 frogfather44 Jul 31, 2013 11:21 PM Flag

    Aparently some have thought Gigraltar is a tax haven. Well the tax laws were looked at and passed.

    by Brian Reyes

    Europe's finance ministers have endorsed Gibraltar's taxation framework, in a significant move that will undermine critics who accuse the Rock of being a tax haven.

    The European Council of Economic and Finance Ministers [ECOFIN] gave Gibraltar's Income Tax Act full approval at its meeting last Friday.

    The legislation was amended to address a minor concern raised by the inter-governmental group that monitors the EU Code of Conduct for Business Taxation.

    The Act is now fully compliant with that code and no longer regarded as harmful in any way.

    This is the first time that Gibraltar's tax system has been fully endorsed by both the Code Group and ECOFIN.

    The approvals represent a major boost for Gibraltar's reputation as a mainstream and fully-compliant tax jurisdiction. "

    A long article is on the site. This is the important bit IMO.

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