(ANSAmed) - MADRID - Gibraltar continues to be the source of an endless conflict between Spain and the UK. The long-lasting dispute on the waters surrounding the Rock is now joined by a new conflict: the Spanish government has denounced Gibraltar's new fiscal regime to the European Commission. The government claims the Income Gibraltar Act 2010 is not in line with EU legislation and European treaties. The complaint was filed, according to government sources quoted by the Spanish press, on the eve of the 3-day visit by Prince Edward and his wife to Gibraltar. The visit, which starts today, is meant to celebrate the 60th anniversary of the crowning of Elisabeth II. The new tax regime, in force since January 1 2011, lowers corporate tax in Gibraltar from 22% to 10%, against 30% in Spain. The tax only has to be paid for revenues generated in or coming from Gibraltar. Therefore, Spain denounces, companies that register residence for tax purposes in Gibraltar for their activities in Spain are given an advantage. Spain filed its complaint on June 1 to the European Commission General Direction for Competition. The Spanish foreign ministry has not made this step public in order to avoid compromising the ongoing talks between fishermen active in the Bay of Cadiz and the government of Gibraltar, which refuses to let Spain fish in the waters around the Rock.Gibraltar: New tax regime worsens Spain-UK relations
Spanish government turns to EU
Wednesday, 13 June 2012
A Gibraltar monkey (Macaca Sylvanus) on the so called " Top of the Rock " balcony in Gibraltar
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