Following the European Union investigation of Gibraltar's tax regime, and in particular the taxation of passive income, Gibraltar has amended its Income Tax Act in order for royalty income to be subject to taxation. The changes ensures that the Gibraltar tax system is compliant with EU rules.
As from 1 January 2014, royalty income that is deemed to accrue in, or is derived from, Gibraltar will be subject to income tax at a rate of 10%.
Royalty income is deemed to accrue in, or is derived from, Gibraltar if the company receiving the income is registered in Gibraltar.
Earlier this year, Gibraltar amended the tax treatment of inter-company interest income.
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