
Spain claims Gibraltar derives £150m from tobacco smuggling
Nearly a third of Gibraltar’s income is derived from tobacco smuggling, according to the Spanish tax authorities. Hacienda’s special representative in Andalucía claimed in a Canal Sur interview that more than 150 million of Gibraltar’s 500 million pounds Budget originates from the illicit tobacco trade. He said this sum is sufficient to pay for the Rock’s health and education needs.
Alberto García Valera said that, regrettably, Gibraltar is a tax haven for Spain. While acknowledging that Gibraltar adheres to EU rules governing the exchange of tax information, he alleged that Spanish requests for such information are not fully satisfied. He added that it would be desirable for there to be maximum co-operation from Gibraltar, and for the tax system here to be more like those in the rest of the European Union.
http://www.gbc.gi/news/spain-claims-gibraltar-derives-150m-tobacco-smuggling-31892
Related Posts
Counterfeit products: Alibaba ‘highly unlikely’ to take proactive steps to end grey/black market
Chinese e-commerce giant Alibaba is highly unlikely to take major steps to shut...
Officials Seize Large Cache of Fake COVID Vaccines, Drugs, Test Kits in Varanasi
New Delhi: In a raid conducted on February 2, the Uttar Pradesh Food and Drug...
Pune Crime News: Crime Branch Unit 2 Seizes Fake Puma Goods Worth ₹8 Lakhs
In a significant operation, the Pune Crime Branch Unit 2 has seized counterfeit...
EPA, Customs Seize More than 10,000 Illegal Items at SoCal Ports.
The U.S. Environmental Protection Agency (EPA) announced Tuesday enforcement...




