Gibraltar has entered a new era as an internationally competitive onshore European Finance Centre, having left behind its tax haven status.

2011 has seen Gibraltar move from tax haven status to an OECD while listed, EU compliant, competitive onshore European finance centre. This has brought with it the start of some interesting tax planning opportunities for international groups which should be pleased to provide further advice on.

Gibraltar offers a competitive low tax rate within the EU, political independence and good sector links with the government via Gibraltar Finance Centre Council. In addition, Gibraltar offers regulatory supervision, investor protection and all service providers within the same jurisdiction.

From 1 January 2011, Gibraltar moved away from its discriminatory tax regime and introduced a corporate tax rate of 10%, to be self assessed.

The new 10% corporate tax rate provides a very competitive tax rate within the EU. This, together with the fact that there is no tax on dividends, interest and royalties, no VAT and no capital gains tax makes Gibraltar a very favourable jurisdiction to do business in.

Chantrey Vellacott DFK (Gibraltar) Limited is regulated to provide:

• Audit
• Taxation 
• Consultancy

In addition, through the wider resource base in London, the company is able to provide additional services to businesses in Gibraltar including:

• Insolvency
• Corporate finance
• Internal audit