Visit IBCF UK
Like us on Facebook,
Follow us on Twitter!
our mailing list by entering a valid email
address in the field below.
IBCF: NEWS AND INFORMATION
NEWS VIA RSS: [what is this?]
Current (August, 2002) Proposals in Gibraltar legislation
A current (and promising to pass) proposal in Gibraltar seeks to effectively eliminate the distinction between "exempt" and "nonresident" companies by leveling the income tax for all Gibraltar corporations (to 0%.) Currently, all companies are formed identically under the 1931 Companies Ordinance (effectively UK 1929 Companies Act). Once formed, their tax treatment depends on (a) their use - resident or non resident and (b) whether or not one of the existing "tax concessions" has been applied for.
The tax Ordinance basically says that where an individual or company does not have income arising in Gibraltar it shall not be liable to Gibraltar taxation. The new proposals seem to reinforce this position - if a company has no physical presence it won't have to pay the new "employee" or "office space" tax and therefore will only pay (as now) the company registration fee which is increasing from 31 to 300 pounds. The exempt company is essentially being eliminated.
In summary, exempt companies have been replaced by standard companies but at the same time Government of Gibraltar has (a) put non resident companies into the same "bracket" in terms of government fees and (b) the demands of the EU (level taxation) have been met.
information can be found by visiting
our website at www.ibcf.com,
or by emailing us at firstname.lastname@example.org.
issues of the IBCF Newsletter can be
found at: http://www.ibcf.com/newshome.php
Business Company Formation, Inc. assists
legal professionals with company formation,
both internationally and offshore, and
with registered agent and corporate
document retrieval services throughout
International Business Company Formation
is an affiliate of National Registered
Agents, Inc., a fully licensed professional
Registered Agent for thousands of business
entities, large and small, throughout
the entire United States.
Business Company Formation, Inc. is
located in the historic district of
Tappan, New York, approximately thirty
minutes from midtown Manhattan.
International Business Company Formation,
101 Main Street, Suite One
Tappan, New York 10983
Toll Free: 888-664-6263
Click to open
Universal Currency Converter
Click Here for a Time Zone Chart