Oct 01 - European Commission Launches Further Investigation into Gibraltar Tax Regime
The European Commission has decided to extend the ambit of the State Aid investigation into Gibraltar’s Income Tax Act 2010. News giant Reuters claims that the EU executive will examine a practice which allows companies to request advance confirmation of whether certain income is subject to tax.
The Commission’s investigation previously covered 165 tax rulings granted to a variation of companies between 2011 and 2013. Last year they launched an enquiry into other areas of Gibraltar’s corporate tax regime. The Government has condemned the decision, which has been made by outgoing EU Competition Commissioner, Joaquin Almunia.
