On 19 December 2018, the European Commission (EC) concluded the State aid
investigation which it originally opened in October 2013 and which it extended in
October 2014. The EC found that Gibraltar's corporate tax exemption regime for interest
and royalties, as well as five tax rulings, are unlawful under EU State aid rules.
The beneficiaries now have to return unpaid taxes which are estimated to be in the region of €100 million to Gibraltar.
For further queries, please speak to your usual PwC adviser.
