Posts Tagged ‘Holding Companies’

GIBRALTAR, A NOT SO WELL KNOWN TERRITORY OF THE EUROPEAN UNION

Monday, October 20th, 2008

Why do many international professional advisers, including the Big Accounting Firms, consider Gibraltar as a very unique jurisdiction in the European Union?

Beyond its well established position in the ranking of international financial centers, the tax situation places Gibraltar as an excellent base for international holding companies.

Over the years Gibraltar has positioned itself as a great place to do business internationally and all the European Union Financial and Tax Directives are applicable.

Anti Money Laundering provisions and Know Your Client protocols in Gibraltar are applied with strict adherence to EU and OECD protocols (27/02/2002)

What not so many advisers know is that Gibraltar, under Article 227(4) of the EEC Treaty is within the European Union by virtue of being a United Kingdom territory. In this respect, Article 28 of the 1971 UK Accession Treaty relieves Gibraltar from the common customs tariff, the common agricultural policy and the harmonization of turnover taxes, in particular VAT.

The UK and Spain have traditionally maintained a sort of “stand by” position regarding the issue of Gibraltar been an independent nation. What is clear at this stage is that conversations between the two countries now include Gibraltar, in what is known as the Tripartite agreement signed in Cordoba in 2004.

What is clear to many of us is that Gibraltar is a robust jurisdiction with a well deserved place in the European and International market place. It would be advisable that during this XXI Century the issue of decolonization and independence from the United Kingdom and Spain could be finally resolved under the auspices of the United Nations

GIBRALTAR, PART OF THE EUROPEAN UNION

Saturday, February 9th, 2008

In the Anglo Spanish tax and legal world, the position of Gibraltar, both for proximity and for the uniqueness of its legal and tax regime is fascinating. A very good place to get some professional information about Gibraltar is the Grant Thornton site.

From the years of the Utrecht Treaty in the 18th Century, times have changed substantially. Today Gibraltar, a territory of the United Kingdom, has developed an unique position in the European Union and in the global financial markets.

Culturally, Gibraltar reflects the influence and coexistence of Britons and Spaniards with a clear Mediterranean flavor.

Politically Gibraltar has become a unique jurisdiction in the European Union territory. Gibraltar. Whilst Gibraltar under Article 227(4) of the EEC Treaty is within the European Union by virtue of being a European territory for whose external relations Britain is responsible, Article 28 of the 1971 UK Assession Treaty relieves Gibraltar from the common customs tariff, the common agricultural policy and the harmonisation of turnover taxes, in particular VAT.

The relationship between the three governments of Spain, UK and Gibraltar is progressing in the context of the Tripartite agreement signed in Cordoba in 2004 provides a route plan to continue improving this cooperation.It is a robust jurisdiction claiming its place in the global economy and the issue of decolonization and independence from the United Kingdom and Spain is under review in the United Nations

Over the years Gibraltar has positioned itself as a great place to do business internationally and all the Financial and Tax Directives are applicable. Anti Money Laundering provisions and Know Your Client protocols in Gibraltar are applied with strict adherence to EU and OECD protocols.

SPANISH CORPORATION TAX FOR 2008

Sunday, February 3rd, 2008

Starting this accounting year (1/1/08) the Spanish corporation tax rate is 30%. It is important to notice that Small and Medium Enterprises (PYME) will have a reduced rate, which works as follows:

25% Corporation Tax rates for profits up to 120,202 Euros

30% for profits above the 120,202 Euros threshold

There are several other important considerations regarding International Accounting Standards, which we will be discussing in subsequent notes.

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International Tax Law Barrister, Lawyer, Abrogado & Attorney, Leon Fernando del Canto of Konsilia, offering services relating to international tax planning, tax advice, private clients, international law, serving Spain, United Kingdom, Europe.

Tax Precision is the trading name of León Fernando del Canto Gonzalez, a Barrister regulated by the General Council of the Bar in England and the Colegio de Abogados de Jerez de la Frontera.