Gibraltar legislation has enacted increases in tax filing measures that you should be aware of to avoid. These penalties are being significantly increased for companies, particularly for those classed as medium or large.
On 1 January 2025 the late filing penalties legislation for companies which was originally published in 2022, came into effect.
The penalties that applied up to 2024 were £50 for late filing, an additional £300 for late filing by more than three months, and an additional £500 for late filing by more than six months. These have now changed.
The increased penalties for companies are:
For further information to the size of a company defined in Schedule 9 of the Companies Act 2014, click here within our Frequently Asked Questions on Accounts and Tax Returns
How do I Avoid Penalties?
Make sure all Europa Trust Company Ltd fees are paid on time (invoices are payable on presentation) and that we have all the relevant information to prepare the Tax Return and file it at the Tax Office.
Now is the Time to Work with The Europa Group
Europa Trust Company Limited is part of the Europa Group. We have been based in Gibraltar for over 39 years and have built a reputation as a stable and reputable business.
We provide a comprehensive range of company and trust formation and management services including company and trust administration, foundations, partnerships, corporate directors, shareholders and secretaries, accounting, marine registration and other associated services.
Our clients are an eclectic mix of international executives, authors, sportsmen, corporations, wealthy individuals, families and many more. Their individual interests and needs are at the centre of our focus. Each client benefits from the experience and multi-jurisdiction knowledge of a dedicated Europa Group professional.
The Europa Group is authorised and regulated by the Gibraltar Financial Services Commission.
If you are thinking of changing your company management, Contact us today to find out how we can help you.
