Fast Facts About Gibraltar
Key Information
(All figures relate to 2022 unless otherwise stated)
| Population | 33,140 |
|---|---|
| Total land area | 6.5 sq km |
| Natural resources | None |
| Head of State | HRH Queen Elizabeth II |
| Chief Minister | Hon Fabian Picardo, MP |
| Legislature | Parliament (no upper house) |
| Languages | English & Spanish |
| Business hours | 9am - 5pm Monday to Friday |
| Inflation rate | 7.9% per annum (year to January 2023) |
|---|---|
| Minimum wage | £8.60 per hour (£335.40 per week) |
| Average earnings | £34,105 (2022) |
| Registered employed | 31,150 (Oct 2022) |
| GDP | £2.74bn (2022/23 FORECAST) |
| Imports | UK: 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, info@financecentre.gov.gi | 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). |
