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.
Get VAT and indirect tax news delivered to your inbox twice a week.
No spam. Unsubscribe anytime.
VatCalc · about 2 hours ago
EU Parliament has tabled more than 200 amendments to its draft report on a coherent tax framework for the financial sector, with VAT reform at the centre. The proposals aim to narrow the long‑standing VAT exemption for financial services, tax fee‑based B2B services, consolidate the Insurance Premium Tax into VAT, and modernise rules for neobanks, crypto and other digital financial services. A parliamentary vote is scheduled for 26 April 2026, with a vote expected in May and potential plenary adoption in June.
FE Week · about 23 hours ago
The Court of Appeal has ruled in favour of Colchester Institute in a VAT dispute with HMRC, allowing the college to reclaim VAT on pre‑2010 capital projects. The decision could extend to an estimated 20‑30 other colleges and raises uncertainty for charities that may lose VAT discounts. The ruling centres on the Lennartz mechanism, which HMRC had withdrawn in 2010.
Deloitte Malta · 1 day ago
Malta’s Value Added Tax Act will be amended by amendment 86 of 2026, taking effect on 1 October 2026, to narrow the VAT exemption for gambling and betting services. The changes are expected to improve VAT recovery for B2C operators and certain B2B providers, with detailed guidelines to follow.
Seeburger · 1 day ago
Spain has approved a draft bill that will extend mandatory e‑invoicing from the B2G sector to B2B transactions. The new law requires companies to use certified invoicing software from 1 January 2024 and sets a phased implementation schedule based on turnover thresholds. Non‑compliance can lead to fines up to €10,000.
e-Invoice.app · 2 days ago
The European Commission will host a public workshop on 27 April 2026 to review the revision of Directive 2014/55/EU on e‑invoicing in public procurement. The event will outline potential policy measures, gather stakeholder feedback, and discuss the three policy options for the revision. The outcome will influence upcoming compliance requirements, including the ViDA reform that will mandate structured e‑invoicing for intra‑EU B2B transactions by July 2030.
Bloomberg Tax · 2 days ago
The article examines how fully automated, AI‑run companies—termed zero‑person companies—challenge existing VAT rules. It explains that while such entities can perform all operational tasks, they still require a human link for legal accountability, and their place of establishment for VAT purposes is determined by where central administration effectively occurs, often defaulting to the registered office. The piece also discusses the low likelihood of fixed establishments arising solely from cloud infrastructure and outlines compliance implications for tax authorities.
