Tax System in Gibraltar
All companies incorporated in Gibraltar are required to produce and file certain accounting information at Companies House whether they have an activity or not.
If no profit accrued or derived from Gibraltar, the tax rate is 0%. If any profit accrued or derived from Gibraltar, the tax rate is 10%.
Once the company has been incorporated, it has up to 18 months to choose a Financial Year end (taxation period).
After the end of the Financial Year End, the company has 13 months to file the accounts evey year.
Should this not occur, an initial £50.00 penalty will be issued and 6 months thereafter a further penalty of £100.00 will be incurred against the company should the entity had not complied with the regulations yet.
Company accounts need to be filed up to date for all companies, should they have any activity or not.
- balance sheet;
- financial statement;
- tax calculation (if any); and
- Account filing with authorities, as “Statutory Abridged Balance Sheet”.
|Transaction / Entry||Price|
|1 - 25||£ 1,500|
|25 - 75||£ 1,950|
|75 - 150||£ 2,500|
|150 - 300||£ 2,950|
|+ 300||Upon request|
Company had no activity since incorporation (ie. no bank movement, no supplier invoices, no client invoicing).
Please note that the above information and price sheet is applicable to small and medium sized companies. Small and medium sized companies are categorized as such if the following conditions are met :
- Net turnover does not exceed £4.8million,
- Balance sheet total does not exceed £2.4million, average number of employees does not exceed 50.