GSD PUT FORWARD MOTION ON HARMFUL AND INTRUSIVE TAX TREATY TAX TREATY

The Leader of the Opposition, Keith Azopardi, has presented a Motion to Parliament that the Tax Treaty signed with Spain is “intrusive and harmful” and that it should be replaced with a neutral and fair treaty based on the OECD Model tax treaty.

Mr Azopardi said: “the GSD position on the Tax Treaty signed with Spain is well-known. We think this is a deal that is bad for Gibraltarians and bad for business. It is intrusive and harmful. It is a disincentive for inward investment and it treats Gibraltarians who return home from Spain unfairly and as if they were still Spanish tax residents for four years.

There has not been an opportunity to properly debate this Treaty that was entered into with the Gibraltar Government’s consent without showing it first to Parliament here and in breach of Mr Picardo’s commitment to the Opposition.

This Motion will now allow our Parliament to finally debate this Treaty in a full and proper way. We have no doubt that this deal with Spain was a bad deal for Gibraltar and we look forward to the debate so we can set this out in detail.”