Transaction tax ‘acceptable’ to EU is part of deal to join border-free Schengen zone and link with customs union
Gibraltar will apply a 15% sales tax on goods to avoid unfair competition with Spain, as a result of the agreement on the post-Brexit future of the British overseas territory, it has emerged.
The territory has agreed to ensure a 15% minimum “transaction tax” on goods within three years of the ratification of the agreement, according to a senior European official.
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