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Gibraltar did not see the victory over the taxation challenge
 December 22, 2008, 8:54 am (3 years ago)The continuous European Commission's challenge to the low corporate tax system in Gibraltar has been concluded by a European Union court in support of the tiny Mediterranean nation. For a lot of online gambling companies based in Gibraltar, this case has been one of their main concerns. The case began from 2002, because of its possible impact on the financial practicability of running in the country.
The Luxembourg court's judgment establishes Gibraltar's conclusion to charge a competitive tax rate of just 15 % of incomes on companies from abroad which have built legal residence in the British land.
The European Commission started its challenge to the small tax regime in Gibraltar since 2002, supporting its protests on the territory's economic independence from the British government. The Commission argued that the low corporate tax rate brought Gibraltar-located companies inequitable benefits over their U.K. counterparts, and charged that for levy reasons the territory is supposed to be taken as a part of the U.K. and thus be subject to its corporate tax rates.
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