Sep 02 - GSD Concerned By EU Tax Investigation
The GSD Opposition says it wishes to express its “very serious concern” at the announcement by the EU Commission regarding the investigation of Gibraltar’s tax regime in relation to certain tax rulings issued by the Income Tax Office.
The Opposition says it recalls that when the 2010 Income Tax Act was written and introduced, the GSD Government at the time, together with local professionals, put considerable effort into ensuring that Gibraltar’s reputation as a transparent and first class tax jurisdiction was maintained and further advanced. The GSD says it has no reason to doubt the Government’s confidence and trust it has in the “professional and diligent manner” in which the Tax Office does its work in granting the tax rulings.
This, however, according to the GSD, is now a very serious development and “no effort should therefore be spared in making sure that Gibraltar’s hard fought reputation as a mainstream and reputable tax jurisdiction is not in any way tarnished.” The Opposition says that it hopes that there can be a quick resolution to this issue such that it can be quickly exposed for being an “unnecessary and futile exercise.”
The party urges the Government to keep the relevant parties that are potentially affected by the EU Commission decision fully informed.
