ISOLAS Welcomes Upcoming Double Taxation Agreement
Gibraltar’s oldest law firm, ISOLAS LLP, has welcomed the upcoming negotiations on a double taxation agreement between the Gibraltarian and UK Governments, announced by the Exchequer Secretary to Her Majesty’s Treasury, Robert Jenrick.
The law firm says the announcement brings greater clarity for businesses operating in Gibraltar as bilateral taxation agreements remove barriers to international trade and investment and provide a clear framework for taxing businesses that trade between jurisdictions.
ISOLAS also says the deal will also position Gibraltar’s offering on a level playing field with competing jurisdictions that currently already have double taxation agreements with the UK and highlights Gibraltar’s commitments to the international standards of tax transparency and its reputation as a “robust and reputable financial centre.”
Christian Hernandez, Partner at ISOLAS, said:
“The negotiations, expected to be finalised within months, are great news for Gibraltar, and everyone who does business with our jurisdiction. It will bring enhanced certainty on the future economic relationship with the UK for ISOLAS’s current and prospective clients. The agreement will further cement Gibraltar as being one of the best places in the world to do business, and encourage more businesses to establish a base in the territory.”
