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23rd March 2016, 22:09

Bulgaria removes Gibraltar from tax haven list

Published by GBC News

Bulgaria has definitively removed Gibraltar from its ‘tax haven’ list. A government spokesman said this follows ‘intensive lobbying’ by Minister Albert Isola and his team.

This change has been reflected in the updated lists published on the European Commission website under ‘Tax good governance in the world as seen by EU countries’.

As a result of a meeting in London with the Bulgarian Ambassador to the United Kingdom, Gibraltar initiated contact with the Bulgarian Ministry of Finance who ultimately prepared an amendment to its Corporate Income Tax Law to remove Gibraltar from its list of countries with preferential tax regimes. The Foreign and Commonwealth Office in London and the British Embassy in Sofia. Helped with this exchange.

Minister Isola said he was delighted with the result, and vowed to continue to press the small number of EU Member States who haven’t yet delisted Gibratlar.