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Bulgaria definitively removes Gibraltar from ‘tax haven’ list

29 March 2016

Bulgaria has definitively removed Gibraltar from its ‘tax haven’ list following intensive lobbying by Albert Isola, Minister for Financial Services, and the Gibraltar Finance Bulgaria team, reports the Gibraltar Chronicle.

This change has been reflected in the updated lists published on the European Commission website under ‘Tax good governance in the world as seen by EU countries’.

As a result of a meeting in London with the Bulgarian Ambassador to the United Kingdom, the Gibraltar Government initiated contact with the Bulgarian Ministry of Finance. Gibraltar was explicitly delisted by Bulgaria with effect as from 1 January 2016.

The government was strongly supported in this matter by the Foreign and Commonwealth Office in London and the British Embassy in Sofia.  “I am delighted with this result following our recent successes with Canada, Estonia, Italy, Latvia and Poland,” said Mr Isola.

“We will continue to press the remaining very small number of EU Member States to delist Gibraltar as soon as possible given that we have exchange of information mechanisms for tax purposes, to the OECD standard, with all EU Member States as well as a further fifty countries around the world.”

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