Executive summary
On 2 April 2020, the Court of Justice of the European Union (CJEU) issued its preliminary ruling in the case GVC Services (Bulgaria) EOOD v Direktor na Direktsia ‘Obzhalvane i danachno-osiguritelna praktika’ – Sofia (Case C-458/18). The case considered the application of the European Union (EU) Parent-Subsidiary Directive (PSD) (Council Directive 2011/96/EU) to Gibraltar companies.
In its judgment, the CJEU held that companies incorporated in Gibraltar and subject to Gi…