Gibraltar 2023 Budget Address Delivered Including Plans to Implement a New Regime for Companies Subject to Pillar 2 and a Domestic Minimum Top-up Tax

On 11 July 2023, Gibraltar's Chief Minister Fabian Picardo delivered the 2023 Budget Address. For companies, the main measures announced concern the Pillar 2 global minimum tax. Although details are limited, the Budget Address includes that Gibraltar will implement a distinct new regime for companies within the scope of the Pillar 2 global minimum tax and a domestic minimum top-up tax. This will take effect no earlier than accounting periods beginning on or after 31 December 2024. For this p…