Saturday, February 19, 2005

Feel free to copy, there is no copyright on an Anoneumouse montage. (click on image to enlarge)

loss of sovereignty IV

EU forces end to Gibraltar's tax breaks

The Government has agreed to scrap tax breaks for thousands of companies registered in Gibraltar following pressure from Europe.

Under current rules, an "Exempt Company" pays no income tax on its profits and is instead subject to a fixed annual tax of between £225 and £300. Companies subject to the general company taxation regime in Gibraltar pay a standard rate of tax on profits of 35 per cent



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