Tuesday, January 18, 2022 - 09:41

Gibraltar’s business community will no doubt be relieved to hear from Sir Joe Bossano that VAT would not be introduced and that joining the Customs Union per se was not on the cards.
However the suggestion of import duties that might mirror EU VAT does raise the question as to increased costs for the consumer and decrease in competitiveness.

Roy Clinton the GSD spokesman for Public Finance and Small Businesses said the following:
“It will be a great reassurance to the business community in Gibraltar to hear from Sir Joe Bossano that there is no intention to introduce VAT, this was a matter on which members of the Chamber and the GFSB needed clarity.