Gibraltar wins tax case against European Commission

The British overseas territory of Gibraltar has won its appeal against an earlier ruling the European Commission after a period of four years and will now be allowed to carry on charging much lower rates of corporate tax than the United Kingdom that has allowed companies to benefit enormously.

Gibraltar is currently the base for many leading gambling operations including PartyGaming, 888 Holdings and Carmen Media who amongst others employ around just over ten percent of the populations 28,800 citizens Peter Caruana, Chief Minister of Gibraltar, went on record that if the case had been lost, it would have resulted “in the bulk, if not all, of the finance centre and gambling companies leaving Gibraltar” with “the loss of thousands of jobs throughout our economy.”