Jun 19 Chief Minister writes to Sr Cristobal Montoro on Spanish Tax Evasion
The Chief Minister, Fabian Picardo, has written to Sr Cristobal Montoro, the Spanish Minister for Hacienda, challenging him to work with the Government of Gibraltar to ensure that there is no Spanish tax evasion money in Gibraltar.
The five page letter sets out why Gibraltar is objectively considered to a "benchmark" jurisdiction in the international financial services sector and highlighting what the relevant "gateways" for access to information on individuals who are suspected to be involved in tax evasion.
Mr Picardo highlights a Europa Press article of 22 April 2013 where, in a clear reference to Gibraltar, Mr Montoro is quoted as saying that “a Europe that fights against tax evasion cannot allow itself to have tax havens”. Mr Montoro was commenting on an article which appeared in El Pais on the same day which was very critical of alleged tax practices in Gibraltar and in which it was stated that his Ministry had set up a working group to “tighten the noose” around Gibraltar’s neck and to suppress the evasion of hundreds of millions of euros of Spanish taxes to, or through, Gibraltar.
Mr Picardo tells Mr Montoro that his depiction of Gibraltar as a place for tax evasion for Spanish residents has come as a great disappointment to HMGoG as are the attacks by members of the Government of the Kingdom of Spain on Gibraltar for alleged tax evasion, lack of transparency on tax matters, poor regulation and money laundering, all of which are wholly unfounded. Mr Picardo tells Mr Montoro that it seems as if Spain is oblivious to the very considerable steps that Gibraltar has taken over the last 20 years to comply with EU and international requirements in all these areas.
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