Spain claims Gibraltar derives £150m from tobacco smuggling
Nearly a third of Gibraltar’s income is derived from tobacco smuggling, according to the Spanish tax authorities. Hacienda’s special representative in Andalucía claimed in a Canal Sur interview that more than 150 million of Gibraltar’s 500 million pounds Budget originates from the illicit tobacco trade. He said this sum is sufficient to pay for the Rock’s health and education needs.
Alberto García Valera said that, regrettably, Gibraltar is a tax haven for Spain. While acknowledging that Gibraltar adheres to EU rules governing the exchange of tax information, he alleged that Spanish requests for such information are not fully satisfied. He added that it would be desirable for there to be maximum co-operation from Gibraltar, and for the tax system here to be more like those in the rest of the European Union.
http://www.gbc.gi/news/spain-claims-gibraltar-derives-150m-tobacco-smuggling-31892
Related Posts
Nigeria: SON Considers Stiffer Sanctions Against Substandard Goods
Standards Organisation of Nigerian, SON, has said it is considering imposing...
Almost R400,000 worth of counterfeit goods seized, two arrested in Boksburg raid
The Gauteng South African Police Service (SAPS) conducted a counterfeit goods...
Fake Indian Currency Notes Worth More Than Rs 60 Lakh Seized In Guwahati, One Nabbed
GUWAHATI: Acting on a tip-off, the Special Task Force (STF) led by Inspector...
Duo caught with 48,000 cigarettes worth Rs 8.2 lakh
After a hiatus, two smugglers from Chennai were caught with a whopping 48,000...