The Government has rejected a claim in a report by Oxfam that says that Gibraltar should be on a tax haven blacklist. The report, which was published on Monday, includes Gibraltar because it allegedly fails to implement so-called anti-base erosion and profit shifting (BEPS) measures. BEPS are tax avoidance strategies that exploit gaps and mismatches in tax rules to artificially shift profits to low or no-tax locations.

The Government issued a statement arguing that Gibraltar has in fact implemented such measures.

A spokesperson said: “The Government is very pleased that Oxfam’s analysis rightly recognises that we are tax transparent and that we operate a fair tax regime.  Unfortunately they have not yet recognised that we have implemented all the EU anti-BEPS measures.  We are seeking a meeting with those responsible at Oxfam in order to seek to update them on our progress in this respect."