Gibraltar’s Income Tax (Amendment) Act 2015 has come into effect, introducing changes to the filing obligations for companies incorporated in the jurisidiction that declare dividends.
For accounting periods ending on or after January 1, companies incorporated in Gibraltar that declare a dividend must file a return within nine months after the end of the accounting period in which the dividend was declared.
Furthermore, accountant KPMG advises that companies declaring dividends in favour of shareholders who ordinarily reside in Gibraltar or another company incorporated in Gibraltar must provide such shareholders with particulars of the amount of tax credit and the dividend entitlement divided between that part paid out of profits chargeable to tax in Gibraltar and that part paid out of profits not chargeable to tax.
This information must also be provided within nine months of the end of the accounting period in which the dividend was declared.
Source: KPMG
