Wednesday, September 29, 2021 - 09:33

EU tax proposals could stall Gibraltar bunkering industry, says Commons Committee but Picardo says Gibraltar not consulted

Gibraltar’s burgeoning bunkering industry could stall, and Northern Irish businesses competitiveness in Great Britain could be eroded if the EU adopts proposals altering tax rules, according to a new report from the influential European Scrutiny Committee.

MPs on the Committee were critical of what they called the Government’s lack of interest and that no impact assessment had apparently been conducted on the proposal’s effects.
The draft Energy Taxation Directive proposes yearly increases in the minimum tax on energy and fuels in line with inflation, removing several tax exemptions and linking tax levels to a fuel’s environmental performance. This could hit drivers, consumers, and businesses in the pocket, according to the report.