Gibraltar
Economy
Life in Gibraltar comes with certain financial benefits. Standard corporation tax is 10 per cent, rising to 20 per cent for energy and utility companies, and there is no capital gains tax, sales tax, or VAT. Anyone working in Gibraltar is given the choice of two personal tax systems: – Allowance-based system – Gross income-based system Certain deductions that you will not find in the UK such as a £12,000 home purchase allowance. The standard rate of tax in Gibraltar is 20 per cent, subject to the taxpayer’s level of income and the tax system selected. Residents are not subject to inheritance tax, nor are they taxed on interest on savings or share dividends. Those who retire in Gibraltar pay zero tax on income from pensions.
Connections
Gibraltar’s airport has flights to numerous UK destinations, including Birmingham, Bristol, Manchester and London Gatwick, Heathrow, Luton, and Edinburgh.
Gibraltar’s location is also ideal for an easy commute to Seville or Malaga airports. Cross the border and explore the Costa del Sol from Marbella to the historic city of Malaga the birthplace of Picasso or Costa de la Luz and the city of Cadiz one of the oldest continuously inhabited cities in Western Europe.