Spain accepts apology over Gibraltar signings.
Spain demanded an explanation from the US and the UK after they signed a tax information agreement ahead of the G20 summit in London last month.
Spain described the signing as “insulting” because of a photograph which showed the US and Gibraltar flags alone – giving the impression Gibraltar was independent of the UK.
Spain does not object to the agreements in principle but was angered by the lapse in diplomatic protocols.
The Gibraltar government intends to have at least 12 more of the Tax Information Exchange Agreements (TIEAs) signed with the OECD by November this year, ensuring that Gibraltar will continue to be seen as a well regulated jurisdiction, with a low tax rate and in so doing will attract good quality business.
Owners of offshore companies registered in Gibraltar can still be assured of total anonymity if they have employed Nominee Directors, Nominee Secretary’s and Nominee shareholders, or Nominee Trustees – while at the same time benefiting from a well respected jurisdiction, able to conduct business worldwide.
European Election Campaign under way in Gibraltar
William Hague lent his support for the Conservative candidate in Gibraltar – Mark Francis this week, when he visited Gibraltar. MEP’s have campaigned strongly in recent years on issues such as telecommunications situation for Gibraltar- now vastly improved, and the hotly debated “Stand up for Gibraltar” campaign to protect Gibraltar’s Sovereignty. Following Mr Hague’s visit – Mr Francis repeated “The Conservative Party will never let Gibraltar down”
Republicans block offshore tax clampdown by Obama
Leading Republican and American business groups voiced their disgust at the inevitable and unfair double taxing of US multinational companies by forcing them to pay tax to both the US Multinational companies by forcing them to pay tax to both the US and foreign countries – by removing the current provisions that protect against such circumstances with correct use of offshore tax planning for overseas subsidiaries.
Senate Finance Committee Chairman -Max Baucers, offered “there will be no prospect of easy approval” warning that a “study is needed to gauge the impact to US businesses.
Marty Regalia, Chief Economist of the US Chamber of Commerce – the business group representing millions of US business people, is urging both democrats and republicans to oppose the offshore tax changes.
It would therefore appear that Obamas’ attack on the offshore industry is not as widely supported as he would have us think and that the sweeping changes threatened at the recent G20 summit in London will get a much tougher reception than he wanted.
Pope Gives Golden Rose to Gibraltar
The Golden Rose, a golden stem bearing two flowers, the highest honour the Pope can bestow – was presented to Bishop Charles Caruana this week in Gibraltar to celebrate the Rocks 700 years of devotion to our Lady of Europe.
Members of the Royal Gibraltar regiment proudly carried the sacred our lady of Europe in a procession attended by hundreds marking the end of the Jubilee year 1309-2009.
