From 1 January 2011 all individuals are taxed in accordance with the Income Tax Act 2010 (ITA) and this publication summarizes the tax position in Gibraltar under this legislation.
Under the ITA, any person is liable to income tax in Gibraltar on sources of income as identified in Schedule 1 of the ITA 2010 accruing in or derived from Gibraltar, which includes:
An ordinarily resident individual is also liable to income tax on the following worldwide income: employment and self employment income, unquoted dividends, funds income, pension income.
Income, wherever received, from any employment exercised in Gibraltar, is treated as having been derived in Gibraltar.
Certain individuals may be able to claim special concessions in Gibraltar.
The official currency of Gibraltar is Sterling (GBP).
For information on practical matters that employers and employees should consider with respect to an international assignment, please refer to the companion booklet entitled Planning Your International Transfer, if available.
For the purposes of this publication, the host country refers to the country to which the employee is assigned. The home country refers to the country where the assignee lives when he/she is not on assignment.
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