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Gibraltar Transaction Tax proposal

GTT sales tax once UK-EU treaty completed

The Mediterranean UK overseas territory of Gibraltar is likely to introduce a turnover tax once the UK and EU have agreed a post-Brexit treaty. Key features of the new sales tax are:

  • Gibraltar Transaction Tax GTT
  • Likely rate between 10% and 15%
  • Only charged at point of sale to final consumer
  • No deductibility for businesses
  • Possible exemptions for medicine, education, children’s clothing

Brexit arrangements agreed between the UK and EU on 24 December 2020 did not cover Gibraltar. A treaty is now close covering freedom of movement of people and border with Spain controls.


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