Gibraltar 'not a tax haven by any measure'

 

Gibraltar's chief minister Fabian Picardo met with Mr Miliband in London this week, accompanied by the minister for financial services, Gilbert Licudi. “Following Mr Miliband’s recent remarks about tax havens, the chief minister and Mr Licudi briefed Mr Miliband on the latest developments in Gibraltar and in particular on the work of the finance centre as a fully compliant EU financial services hub that operates entirely in keeping with EU directives and regulations, fully compliant with OECD rules also and therefore not by any measure a 'tax haven'," a government spokesperson said. Officials in the crown dependency of Guernsey have also dismissed Miliband's threat to wage war on UK tax havens, as "political posturing". Charles Parkinson, Guernsey's treasury and resources minister, said the comments were of no concern. Mr Miliband has said the UK should encourage offshore territories to reform or face being blacklisted. But officials on the Rock point out many reforms have already taken place. In January last year, a new Income Tax Act came into effect in Gibraltar, which Gibraltar says marked the territory’s 14-year transition from "tax haven" to an integrated, mainstream European financial services centre

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