Gibraltar tax for companies: 15% on local income, 0% on the rest

The rates are set in Schedule 6 of the Act and repeated in the Income Tax Office's corporate questions; the 2026 Budget Address left them unchanged. The rate only applies to income that is taxable in Gibraltar in the first place. That's the next question.

The test is where the activity that earns the profit happens, not where the company is registered or where the customer is, as the guidance on accrued and derived income explains. Pick your income.

The rules come from sections 11 and 74 and Schedule 1 of the Income Tax Act 2010. Since 11 July 2025 a general anti-avoidance rule puts the burden of proof on the company.

Spain and the UK signed a tax agreement on Gibraltar. Under it, a Gibraltar company can be treated as Spanish tax resident when it's mostly owned or managed by people living in Spain, among other tests.

Spain removed Gibraltar from its tax blacklist from 28 June 2026, but the residence rule still stands. If that's you, Gibraltar's 15% on local income isn't the number that matters: Spain's company tax is. Talk to a Spanish adviser before forming one.

Every company files Form CT1 with signed accounts, even if it owes nothing. Pick your year end.

Accounts come with an independent accountant's report, or an audit once assessable income reaches GBP 1,750,000. Late returns from small companies cost GBP 100, then 450, then 750, under section 65 of the Income Tax Act. The guidance notes for companies set out the CT1 timetable.

It taxes local profit at 15%, has never been on the EU tax blacklist by its government's account, and left the FATF grey list on 23 February 2024 after almost two years, and Spain took it off its own tax blacklist from 28 June 2026, after 35 years. The OECD rates its transparency largely compliant, one step below the top. The 15% minimum tax for EUR 750 million groups applies since the end of 2023, under the Global Minimum Tax Act 2024. For the company's account, see our Gibraltar company bank account guide.