Gibraltar: Tax authority clarifies corporate income tax rate increase is effective 1 August 2021

The increase in the corporate tax rate to 12.5% is effective as from 1 August 2021.

The increase in the corporate tax rate to 12.5% is effective as from 1 August 2021.

The Gibraltar Society of Accountants clarified with the Commissioner of Income Tax that the increase in the corporate tax rate to 12.5% is effective as from 1 August 2021.

Therefore, for any accounting period that straddles this date, the increased rate of 12.5% applies for the period beginning from 1 August 2021 to the end of the accounting period.


For more information, contact a KPMG tax professional in Gibraltar:

Darren Anton | +350 200 48600 | darrenanton@kpmg.gi 

 

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