Gibraltar

Individual - Other taxes

Last reviewed - 30 July 2020

Social insurance contributions

Social insurance contributions are payable by every employee or self-employed person in any week in which they work.

Employees' contributions are calculated as 10% of gross earnings, subject to a minimum of GBP 6.05 per week (GBP 26.22 per month) and maximum of GBP 30.25 per week (GBP 131.08 per month).

Employer's contributions are calculated as 20% of gross earnings, subject to a minimum of GBP 18.15 per week (GBP 78.65 per month) and maximum of GBP 40.15 per week (GBP 173.98 per month).

Self-employed contributions are calculated as 20% of gross earnings, subject to a minimum of GBP 12.10 per week (GBP 52.43 per month) and maximum of GBP 36.85 per week (GBP 159.68 per month).

Consumption taxes

Value-added tax (VAT)

There is no VAT in Gibraltar.

Wealth tax

There is no wealth tax in Gibraltar.

Estate duty

There is no estate duty in Gibraltar.

Inheritance tax

There is no inheritance tax in Gibraltar.

Gift tax

There is no gift tax in Gibraltar.

Customs and excise duties

Goods imported into Gibraltar are generally subject to import duty at varying rates.

Noticeable exceptions are food, alcohol, and tobacco, which are subject to a fixed amount of duty regardless of the value.

Stamp duty

Stamp duty is payable on the transfer or sale of any Gibraltar real estate or shares in a company owning Gibraltar real estate (on an amount based on the market value of said real estate) at the following rates:

  • Less than GBP 200,000: 0%.
  • Between GBP 200,001 and GBP 350,000: 2% on the first GBP 250,000 and 5.5% on the balance.
  • Over GBP 350,000: 3% on the first GBP 350,000 and 3.5% on the balance.

For first and second-time buyers, there is no stamp duty to pay on properties valued at less than GBP 260,000.

On affordable housing estates developed by the government, the following applies:

  • There is no stamp duty on the initial purchase price of the property.
  • A special rate of stamp duty of 7.5% is payable on the sale of affordable housing developed by the government within the first ten years since original purchase. The duty is not payable in circumstances of a forced sale, including in the cases of divorce or where a family moves to a larger property as a meritorious upgrade to another, newer, government affordable housing estate.

Stamp duty on transfer of properties between spouses is nil.

Stamp duty is also payable on mortgages secured on Gibraltar real estate at the following rates:

  • Less than GBP 200,000: 0.13%.
  • Over GBP 200,000: 0.20%.