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The latest list of countries & territories includes the Falklands/Malvinas and Gibraltar among the areas considered tax havens by the Spanish Government, allegedly involved in crimes such as money laundering.

The standard rate of withholding tax for individuals under the emergency code is 20%. A company will be considered resident in Gibraltar if the management and control of its business is exercised from Gibraltar.

Gibraltar remains on Spain's list of countries and territories it regards as tax havens, ing to a document published by the Spanish treasury on Thursday.

The standard rate of withholding tax for individuals under the emergency code is 20%. A company will be considered resident in Gibraltar if the management and control of its business is exercised from Gibraltar.

A completed P7A ( Details of employee leaving work) form must be provided to every employee on termination of employment; A completed P7 (Certificate of Pay, Tax Deducted and Social Insurance Contributions) must be provided to every employee at the end every tax year.

Taxation in Gibraltar is determined by the law of Gibraltar which is based on English law, but is separate from the UK legal system. Companies and non residents do not pay income tax unless the source of this income is or is deemed to be Gibraltar.