EY reports that Gibraltar will introduce a Transaction Tax on goods from 10 April 2026, with rates rising from 15% to 16% and then aligning with the EU's lowest VAT rate. The new tax applies to imported or locally manufactured goods, exempting bunkering fuel, ship supplies, and non‑sale goods, while excise duties for tobacco, alcohol, and fuel will align with Spanish rates by 2029. Businesses and individuals will need to adjust pricing and compliance processes accordingly.
The Transaction Tax on goods in Gibraltar takes effect on 10 April 2026.
The TT starts at 15% in the first year, rises to 16% in the second year, and from the third year onward aligns with the lowest EU VAT rate of 17%.
Bunkering fuel, ship supplies, and goods not intended for sale in Gibraltar are exempt from the TT.
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