New Reporting Deadline for Spain Tax Agreement

04/05/2021 Adrian Pilcher, Emma Lejeune, Stuart Dalmedo

The deadline for the submission of information for the purposes of Article 2(2)(d) of the International Agreement on Taxation and the Protection of Financial Interests between the Kingdom of Spain and the United Kingdom of Great Britain and Northern Ireland regarding Gibraltar (the “Agreement”) has been extended until Friday 7 May 2021.


In applying (2)(b) of the Agreement, the Gibraltar tax authorities are required to provide the designated Spanish tax authorities with a list of the persons charged with effective management and the legal beneficial owners of any Gibraltar-based legal person, entity or other legal structure or arrangement which  fall within the residency rules outlined in (2)(a)(iii) or (2)(a)(iv).


This information will be used to establish residency for tax purposes. The Agreement contains a safeguard which allows such legal persons, entities and other legal structures or arrangements that may fall under the criteria set out in 2(a) (iii) or 2(a) (iv) to retain their residency only in Gibraltar, provided they were incorporated prior to 16 November 2018, and that they can demonstrate sufficient physical presence and business and economic operations in and from Gibraltar.


What next?

For further information or for assistance with filing the return please contact: Emma Lejeune; Adrian Pilcher; or Stuart Dalmedo


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