OrbitaxEU General Court Mostly Upholds Decision that Gibraltar Granted Illegal State Aid with Exemption Regime for Interest and Royalties and Related Tax Rulings
|Approved Changes|Gibraltar-European Union
The General Court of the European Union recently issued its judgment concerning the European Commission's 2018 decision that Gibraltar's prior corporate tax exemption for interest and royalties, as well as five related tax rulings, are incompatible with EU State aid rules. The exemption for interest and royalty income was introduced in the Income Tax Act 2010, which entered into force on 1 Ja…
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