Income Tax

Government of Gibraltar

COMPANY OVERVIEW


The assessment and collection of income tax is currently governed by the Income Tax Act 2010, Rules and Regulations. That Act was enacted in 2010 and came into effect on 1 January 2011.

Tax is charged on income accruing in or derived from Gibraltar on the profits or gains of a company or trust from any trade, business, profession or vocation.

Tax is charged on the income accruing in, derived from or received in Gibraltar (or in any other place) by an individual ordinarily resident in Gibraltar from employment or the exercise of any self employment activities in connection with a trade, business, profession or vocation. Dividends, pensions and emoluments of office accruing in, derived from or received in any place other than Gibraltar by an ordinarily resident individual are also taxable in Gibraltar. Generally, when taxed in the country of accrual and not received in Gibraltar such income is not taxable in Gibraltar.

Tax is charged on income of all individuals and companies in respect of any rents, premiums and any other interest in real property located in Gibraltar.

Computation of Taxable Income

Income tax is charged for the year of assessment - running from the 1 July in one calendar year to 30 June in the next - on the basis of income for that year.

Standard Rate of Tax

The standard rate of tax for individuals and trusts is 30%.

Deductions for Personal Relief

The allowances and deductions are:

Personal Allowance £3,000 pa
Child Allowance £997 pa
Spouse Allowance £3,000 pa
Child educated abroad £1,105 pa
Dependent Relative Allowance £190 pa max
Disabled Individuals Allowance £3,000 pa
Home Purchase Allowance £11,500
Single Parent Allowance £3,000 pa
Home Purchase Allowance (Special Ded) £1,000 max pa £4,000
Nursery School Allowance £3,000 pa
Medical Insurance £2,000 pa max
Life Assurance, etc.

For more information and to download Guidance Notes and Forms please visit www.gibraltar.gov.gi/taxation

OPENING HOURS


Monday to Friday 08.30 to 15.00

Full Contact Details


St Jago's Stone Block 331 Main Street

Registry

Tel: 20074915

Fax: 20042398

General Enquiries: incometax@gibraltar.gov.gi

Commissioner of Income Tax: 20075260

Senior Assessors: 20075260

Crown Counsels: 20075260

Compliance & Investigation Officer (Accountant): 20075260

Pensions Section: 20051570

Accounts Section: 20074923

Fax : 20051621

Account Enquiries: tax.accountsenquiries@gibraltar.gov.gi

Compliance Section: 20044161

Fax: 20042398

Compliance Enquiries: ito.compliance@gibraltar.gov.gi

Corporate Section: 20074889

Fax: 20042398

Corporate Enquiries: corporatetax@gibraltar.gov.gi

PAYE Section: 20074924

PAYE Enquiries: paye@gibraltar.gov.gi

Fax : 20040020

Self-Employed Section: 20074874

Fax : 20051621

Self-employed Enquiries: selfemployed@gibraltar.gov.gi

Social Insurance Contributions Section: 20052737

Fax: 20048474

Social Insurance: sicontributions@gibraltar.gov.gi

www.gibraltar.gov.gi/income-tax-office

MAPS


New business? You need a website.

Whether you´re looking for a simple brochure or a full featured application, our Digital Service Agency offers a solution. Visit our website to read more! 


Visit Website »
Image Graphics

Gibraltar's leading copier and multifunction supplier. Extensive copy centre offerings: printing, scanning, binding, laminating, graphic design services.


Visit Website »
Talk to Argus...

Whether you need a quote, immediate cover, or you need to make a claim, we'll give you an instant response, locally made. For a speedy, friendly, local insurance service.


Visit Website »