Gibraltar: A Tax Haven Not A Nation
TruePublica Editor: Gibraltar is famous for its 426m high limestone ridge and tax haven status. It is also famous for having Europe’s only wild population of monkeys – all 320 of them. It boasts a total area of just 6.8 square kilometres or 2.6 square miles, a total area approximately one third smaller than Bicester Village Shopping Mall in Oxfordshire. Most of the population of this peninsula live in flats, crammed on land at the base of the rock where around 12% of the workforce is employed by Gibraltar’s big online gaming industry, who are there to evade taxes – quite legally of course. There is no inheritance tax, no VAT, no capital gains tax and low income and corporation tax. GDP is approximately $2 billion dollars, or 300 per cent per head of the average British citizens output back home in good Old Blighty.
Gibraltar even has its very own Mossack Fonseca offices; the very same company involved in the global Panama Papers scandal.
OffshoreCompanyFormationPro is a company that offers company formations, and by the looks of it, mainly to Russian clients. It boasts that “Gibraltar as a tax haven provides excellent and proficient non-resident company services. Tax haven Gibraltar has all the characteristics of a good tax haven whilst offshore clients can be guaranteed that they will save on tax and at the same time receive asset protection.”