That reform included in particular the repeal of the former tax system and the imposition of three taxes applicable to all Gibraltar companies, namely a registration fee, a payroll tax and a business property occupation tax (‘BPOT’), with a cap on liability to payroll tax and BPOT of 15% of profits.

The reform aimed at abolishing the current 35% corporate tax rate and replacing it with a payroll tax and a business property occupation tax - both capped at 15% of profit.

Communication from the Commission to the Council, the European Parliament and the Economic and Social Committee - The elimination of tax obstacles to the cross-border provision of occupational pensions [COM(2001) 214 final - Not published in the Official Journal]. In this communication, the Commission called on Member States to eliminate all national tax rules which, by creating discriminatory conditions for occupational pension institutions established in other EU countries, are in breach of the Treaty's provisions on the free movement of workers and capital, and on the freedom to provide services in the area of supplementary pensions.

The Commission also proposes adopting measures to maintain the tax revenues of Member States for the cross-border provision of pensions. It further proposes a coordinated approach to eliminating the tax obstacles, in particular double taxation, which result from the different taxation systems for occupational pensions in the Member States.

Tackling tax obstacles to the cross-border provision of occupational pensions

EUROPA - EU law and publications - EUR-Lex - EUR-Lex - l31056 - EN - Tackling tax obstacles to the cross-border provision of occupational pensions