Fast Facts About Gibraltar

Key Information

(All figures relate to 2022 unless otherwise stated)

Total land area6.5 sq km
Natural resourcesNone
Head of StateHRH King Charles III
Chief MinisterHon Fabian Picardo, MP, KC
LegislatureParliament (no upper house)
LanguagesEnglish & Spanish
Business hours9am - 5pm Monday to Friday
Inflation rate4.3% per annum (year to October 2023)
Minimum wage£8.60 per hour (£335.40 per week)
Average earnings£34,105 (2022)
Registered employed31,150 (Oct 2022)
GDP£2.74bn (2022/23 FORECAST)
ImportsUK: 60%, Spain: 30%, Other EU:10%
Corporation Tax (from Ist January 2011) Tax Payable
Resident Companies 12.5%
Utilities Companies 20%
Personal Income Tax (Allowance based system) Tax Payable
The first £4000 of taxable income 14%
The next £12,000 of taxable income 17%
The remainder of taxable income 39%
No Inheritance tax/estate duty No wealth, gift or capital taxes
Special Status personal tax rates Tax payable
Qualifying individuals who are non-resident and derive no income from Gibraltar can apply for Category 2 resident status. Applications should be made to the Finance Centre Director, Tax is levied on the first £105,000 of assessable income with a maximum payable of £37,310 and a minimum tax payable of £32,000 per annum (2021).
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