Fabian Picardo delivered a budget message based on which tax changes are coming to Gibraltar.
It is about raising the corporate tax rate to 15% and also introducing VAT. Thus, Gibraltar plans to bring the rate in line with the OECD minimum corporate tax rate. Such a decision will increase tax stability and compliance with international standards.
The bill on VAT should be presented already in September. In addition, the Government of Gibraltar will work on implementing the income inclusion rule in 2025.