About Gibraltar

Gibraltar is a British owned territory located on the most southern tip of Europe, at the entrance to the Mediterranean and connected on its northern side to Audalusia, Spain. Gibraltar is a unique and magnificant land mark with its rock and cliffs stretching skywards some 426 metres, although it mesures less than six square kilometres in total. At the foot of the rock you will find the city area which is home to around 30,000 people, which includes Gibraltarians and many different inpiduals from Europe and therest of the world.

Gibraltar has been subject of repeated conquests and sieges and its history has been etched on the rock’s limestone. Today, as a self governing territory with a locally elected Government, Gibraltar has a solid and perse economy which benefits from an extensive shipping trade, finance, offshore banking, tourism, online gaming and much more.

Facts about Gibraltar

English language and English legal system – this means that international firms, especially those working in the UK or the US, enjoy additional security and comfort, since they can rely on a familiar language and contract terms.

A growing economy, stable political and business climate – despite the global recession Gibraltar has prospered in recent years and shows every sign of future growth, thanks to its steady and reliable political and business culture.

Accessible business and political leaders – starting a company or lobbying for a change in the law is exceptionally easy since there are very few layers of bureaucracy. The rock prides itself on its adaptability and agility, responding to changing circumstances.

Good quality of life, security, education and climate – residents praise the high quality of life on the rock, with its proximity to watersports, golf and mountainous countryside, its low crime rate, access to good education and its 300 days of sun per year.

Strategic positioning – at the mouth of the Mediterranean, at the border of Europe and Africa, Gibraltar is in the middle of everything. And with new technology, this is only going to become more important.

Income Tax in Gibraltar

Gibraltar’s tax year runs from 1st July to 30th June each year.

Gibraltar taxation is generally based on income “accrued or derived” in Gibraltar. individuals who are “ordinarily resident” in Gibraltar are generally liable to Gibraltar tax on a worldwide basis.

Individuals, ordinarily resident, have the choice of being taxed under one of two income tax systems, the gross income based or the allowance based system. It is possible to opt-in to use the system which gives you the lower tax outcome as these two systems operate in parallel to each other.

Gross Income Based System

The gross income based system allows you to choose a flat tax rate but with no allowances (therefore paying tax on gross income directly).

The tax rates for the gross income based system can be view on the Gibraltar Government website below:

http://www.gibraltar.gov.gi/taxation.

To assist you in calculating which tax system will benefit you the most, please use the tax calculator on the Government of Gibraltar’s website – Government of Gibraltar – Tax Calculator.

We accept no responsibility for the accuracy of this information and suggest you get professional advice for an exact calculation. We strongly recommend that you visit the Gibraltar government website for specific information and a tax calculator.

Tourist Attractions

Top of the Rock & Barbary Apes – Visit the top of the rock by cable car, taxi or if you enjoy the outdoor life, then walking is an amazing way to do it. Whichever way you decide to travel you will not be disappointed when you reach the top and witness the north Africa filling one horizon, whilst the gates to the Mediterranean (pillars of Hercules) and the Atlantic are on either side. At the top you will also be met by Gibraltar’s most famous residents, the Barbary Apes of which are a great attraction for all visitors to Gibraltar. First introduced by the British in the early 18th century from the mountains of Morocco, these wild tailess monkeys live in packs on the Upper Rock and make Gibraltar the only place in Europe where monkeys rane free in a semi-wild state.

St. Michael’s Cave – Located more than 300 metres above sea level the cave which is literally situated inside the rock of Gibraltar is a magnificant attraction, with the stalagmites and stalactites been famous since ancient times and is still attracting thousands of tourists weekly. The main chamber has been transformed into a large subterranean auditorium and provides a unique venue for a variety of music events performed by local Gibraltarian muscians and also international talent.

Lower St. Michael’s Cave – Discovered accidentially during World War II, tours are now avialable and take around three hours. When visiting these caves be prepared for some minor climbing with ropes as the cave remains in it’s oringal natural state (no steps). Lower St. Michael Cave is well worth the visit and your climbing efforts will be well rewarded as the cave is an amazing and spectacular location and you will not forget this day for a long time.

For more information on Gibraltar you can follow thw link below: http://www.gibraltar.gov.uk/holiday.php