Accounting and legal

Accounting and tax

Tax regulations in Gibraltar

  1. Resident companies in Gibraltar suffer a corporate tax rate of 10%;
  2. There are no VAT requirements in Gibraltar. This said, business is fully VAT exempt;
  3. Tax losses can be carried forward for up to three years;
  4. There are no withholding taxes in Gibraltar. Consequently, payments including: i) dividends ii) interest and iii) royalties are fully tax exempt;
  5. Gibraltar companies are always required to submit financial statements to the Gibraltar Income Tax Office within nine months after the end of their financial year. Audit is also mandatory if the company has annual sales over £500,000;
  6. There is no capital gains tax imposed in Gibraltar;
  7. Social security contributions are payable weekly at a maximum rate of US$55;
  8. Personal income taxation is formed under two progressive regimes, depending on income;
  9. Gibraltar has not signed any bilateral double-tax agreements. However, 27 Tax Information Exchange Agreements (TIEAs) are signed under the OECD’s legislation.
  10. Finally, Healy Consultants will assist the Client with: i) Documenting and implementing accounting procedures ii) Implementing financial accounting software iii) Preparing financial accounting records iv) Preparing forecasts, budgets, sensitivity analysis and other services;
  11. It is important our Clients’ are aware of their personal and corporate tax obligations in their country of residence and domicile; and they will fulfill those obligations annually. Let us know if you need Healy Consultants’ help to clarify your annual reporting obligations.

Contact us

For additional information on our accounting and tax services in Gibraltar, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Ms. Grace Odhiambo, directly: