Gibraltar recognised for international tax cooperation and modernisation plans

Gibraltar has been recognised for its active implementation of global tax standards during the 17th OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS), held in Cape Town, South Africa from April 7–10.

The event brought together 449 delegates from 135 jurisdictions and 11 international organisations to review progress on international tax reform. Gibraltar was acknowledged alongside South Africa, New Zealand and Guernsey for its adoption of the OECD’s Global Minimum Tax in line with model rules.

The Commissioner of Income Tax, John Lester, who represented Gibraltar at the conference, said: “Gibraltar is proud to play a constructive role in shaping global tax policy. We remain fully committed to international standards and reforms that ensure fairness while protecting our economic sustainability.”

Alongside its commitment to international standards, the Government’s current tax strategy also focuses on transforming tax administration through the use of emerging technologies.

The Minister with responsibility for Taxation, Nigel Feetham, said: “Over the past 12 months, the Government has significantly strengthened compliance resourcing at the Tax Office by recruiting experienced tax professionals.”

“Alongside the implementation of the Government’s broader Tax Strategy, this investment has already delivered tangible results, with a record increase in corporate tax revenues, achieved whilst at the same time reducing personal tax rates for working people at the start of the last financial year.”

“We have said consistently that we want the largest sectors of our economy to contribute to tax revenues proportionately to their size and the value they obtain from being in Gibraltar. Taken together, this represents a substantial, complex and vitally important work and it remains ongoing.”

“Looking ahead, the next phase of our tax strategy is focused on modernisation. Our objective is to transform tax administration through technology by leveraging AI capability, automation and machine learning to further enhance compliance and streamline processes.”

“Instead of merely responding to the inevitable emergence of new technologies, this initiative will help reshape tax administration by adopting innovations and proactively enhancing efficiency.”