Other forms of Tax/Duty in Gibraltar

Capital Gains Tax

There is no capital gains tax In Gibraltar

Wealth Tax

There is no Wealth tax in Gibraltar

Estate Duty

There is no Estate Duty/Inheritance tax in Gibraltar

Value Added Tax

Gibraltar is a VAT-free jurisdiction, attracting consumers worldwide.

Customs Duties

Imported goods into Gibraltar are subject to import duty at varying rates.

Gaming Duty

Gaming duty is taxed at 0.15% on the operator’s gross profits in accordance with the Gambling (Duties and Licensing Fees) Regulations 2018. The first £100,000 of gross profits is exempt.

Double Taxation Relief

Any ordinarily resident individual who is liable to pay tax in Gibraltar in respect of income also taxed abroad can claim double taxation relief in respect of the tax paid abroad. This claim should be made within six years after the end of the year of assessment to which it relates. The time limit is extended in certain circumstances.

Stamp Duty

Stamp Duty Land Tax is the tax that the government charges in respect of transfers and/or sales of real property and capital transactions in Gibraltar.

In respect of capital transactions, there is a fixed charge of £10 per share or loan transaction.

In respect of real property transactions, purchaser’s pay different rates depending on the value of the property and the amount of the mortgage. Stamp Duty is payable at the following rates, following the recent changes made to the Stamp Duties Act 2005:

Purchasing properties under £200,000:

• No stamp duty payable, i.e. £0.00 – £200,000: 0%

Purchasing properties between £200,000 – £350,000:

• £0 to £250,000: 2%

• Over £250,000 to £350,000: 5.5%

Purchasing properties over £800,000:

• £0 to £350,000: 3%

• Over £350,000 to £800,000: 3.5%

• Over £800,000: 4.5%

First or Second Time Buyers in Gibraltar are exempt from paying Stamp Duty where the value of the purchase price does not exceed £350,000 (this excludes companies). Stamp Duty is payable at the following rates:

• £0 to £300,000: 0%

• Over £300.000 to £350,000: 5.5%

• Over £350,000 to £800,000: 3.5%

• Over £800,000: 4.5%

Stamp Duty is also payable on mortgages or further advances secured in Gibraltar. These are at the following rates:

(i) Mortgage of £200,000 or less at 0.13%;

(ii) Mortgage of over £200,000 at 0.20%; and

(iii) Releases of Mortgage at 0.03% of the amount borrowed.