The Government has said it is committed to maintaining its leadership and active role in global tax cooperation, as demonstrated in its participation at the 17th Plenary Meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes in Asunción, Paraguay. This event, celebrating 15 years of progress, marks a significant step forward with the implementation of the Crypto-Asset Reporting Framework (CARF). 

A statement continued: “Gibraltar is among the 61 jurisdictions committed to extending the automatic exchange of tax information to crypto-assets, a vital move in addressing the evolving challenges of the digital economy. Exchanges under CARF are envisaged to commence in 2027 or 2028. 

“The Gibraltar delegation to the Plenary comprised of Commissioner of Income Tax John Lester, and Senior Tax Official Julian Baldachino, who actively participated in discussions shaping the future of global tax cooperation. 

“As a cooperative and compliant jurisdiction, Gibraltar remains at the forefront of global efforts to combat tax evasion and foster equitable tax practices.”

Minister for Taxation, Nigel Feetham, stated: “Gibraltar has consistently demonstrated its dedication to international standards of tax transparency. The early adoption of CARF by Gibraltar solidifies our position as a forward-thinking jurisdiction, demonstrates our commitment to ensuring tax cooperation and transparency in the modern digital era, and in implementing measures and initiatives designed to combat tax evasion.”