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Gibraltar has been removed from the so called unofficial ‘Black list’ in Estonia. When amendments to regulations are drafted, Gibraltar will be added to the ‘White list’. The Estonian Government has received confirmation from Gibraltar of the effective date of the transposition of Directive 2011/16/EU so as to assist in amendments to the relevant regulation.

As far as the Canadian black list is concerned, revised legislative proposals presented on the 29 August 2014 in Canada, included a measure to amend the definition of “non-qualifying country” in the foreign affiliate rules.

The proposed amendment restricts the definition to exclude, after February 2014, jurisdictions for which the multilateral Convention on Mutual Administrative Assistance in Tax Matters (the “Convention”) is in force or has effect at that time. As a result, Gibraltar is no longer a "non-qualifying" country.

 

17-12-2014 | by Selwyn Figueras | Published: