Gibraltar Brexit fears are gaining pace

Gibraltar Brexit FearsGibraltar Brexit fears are rising as a decision is awaited from the European Court of Justice (ECJ). Gibraltarians want to stay in the single market with good reason. It has become a tax haven for many financial services and online gambling operators.

The small rocky territory borders with the southern Iberian peninsula. It became part of Great Britain in 1713 when it was ceded by the Spanish under the Treaty of Utrecht. It is a highly populated territory with around 33,000 residents.

After the millennium, many bookmakers and online gaming operators moved to Gibraltar to benefit from low corporation tax. The tax regime was later modified during January 2011 but resident companies still enjoy a favourable corporation tax rate of 10%.

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