The Diplomat
Spain and the United Kingdom launched on Thursday the cooperation mechanisms provided for in the International Agreement on taxation and protection of financial interests between the two countries on Gibraltar, according to a statement issued by the Ministry of Foreign Affairs.
The Joint Coordination Committee provided for in the Agreement held its first meeting by videoconference, with the participation of the authorities and liaison bodies designated by Madrid and London.
The International Agreement on taxation and protection of financial interests between Spain and the United Kingdom on Gibraltar, whose main objective is to prevent the Rock from consolidating itself as a tax haven, was published on 13 March in the Official State Gazette following its entry into force on 4 March.
The Agreement aims to eliminate tax fraud and to resolve tax residency disputes for individuals more easily.
