Thursday, February 16, 2023 - 11:43

Millions of euros from Gibraltar-linked Spanish nationals

The funds that have poured into the Spanish exchequer from Gibraltar have multiplied by millions and millions of euros in recent times, according to Spain’s economic Ministry Hacienda. This is reflected in figures published by El Economista which show that tax takings in respect of Gibraltar have nearly doubled over the last two years.

TAX TREATY
The tax treaty negotiated between Gibraltar and Spain, but signed by the United Kingdom on behalf of the Rock, was concluded in 4 March 2019. It laid to rest Spain’s concern that once outside the European Union, Gibraltar would become, in the words of the Chief Minister, a sort of Singapore on the Straits.