Spanish Congress approves the Gibraltar Tax Treaty

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 Thursday, July 16, 2020 - 09:16 Joe Garcia

The Spanish Congress yesterday approved the Tax Treaty with Gibraltar which has been going through its ratification process.

The right-wing parties PP and Vox were not in favour, taking the view that the treaty consolidated the fiscal regime in Gibraltar and was a lost opportunity to claim Spanish sovereignty.

The treaty must now go through the Senate, but its passage through Congress is regarded as the final hurdle cleared.

In the Congress, the socialist spokesman said that the agreement eliminates Gibraltar from the Spanish list of tax havens.

The extreme right-wing party Vox moved an amendment to the whole of the treaty, as it recognised the jurisdiction and competence of the Gibraltar authorities for the first time in over 300 years. They saw Spain weakening its position, and came up with all the usual arguments.

The Spanish Council of Ministers approved and forwarded to the Spanish Parliament the Tax Treaty on Gibraltar last February.

The Treaty – the first on Gibraltar since the Treaty of Utrecht in 1713 – was signed by Madrid and London ad referendum in March 2019.

Its ratification was delayed by changes of government in the two countries.

16-07-2020 PANORAMAdailyGIBRALTAR