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.
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