Gibraltar Gazettes Law Amending Anti-Avoidance Rules

The Gibraltar Official Gazette July 11 published the Income Tax (Amendment) Act 2025, amending the anti-avoidance rules under the Income Tax Act 2010. The law includes measures: 1) authorizing the Commissioner to counteract or disregard any tax benefit resulting from a tax avoidance arrangement; 2) expanding the scope of the rules to include arrangements intended to provide a tax advantage, or that undermine the objectives of the rules; 3) applying a substance-over-form approach when determining whether a taxpayer has engaged in a tax avoidance arrangement; 4) placing the burden of showing that an arrangement wasn’t designed, marketed, or implemented for ...