Gibraltar will raise its corporate tax rate from 10% to 12.5% in preparation for the expected introduction of a global minimum tax.
“This means that if the new global agenda thrives, if we have to move from the OECD to 15%, the increase will be less significant,” Prime Minister Fabian Picardo said in a budget address on July 20. The new rate applies to companies’ financial periods beginning after that date, he said.
- Gibraltar is one of 132 countries and jurisdictions that have approved the Organization for Economic Co-operation and Development-led plan to set a minimum business rate …
