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.
]]>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.
]]>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.
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