Gibraltar Tax Agency Issues Information Leaflet on Reduction of Individual Income Tax Rates

The Gibraltar Income Tax Office July 21 issued an information leaflet on the 1 percent reduction in personal income tax rates for the 2023-2024 tax year, for any person having gross assessable income of less than 100,000 Gibraltar pounds (US128,235), as introduced in the 2023 budget address. The information leaflet includes: 1) updated tax bandings and tax tables under the Allowances Based System (ABS), for individuals with gross assessable income under 100,000 pounds, and individuals with gross assessable income of 100,000 pounds or more; and 2) updated tax bandings and tax tables for the Gross Income Based System (GIBS), for ...