Gibraltar has adopted the OECD’s BEPS Action 13 requirements, including Country-by-Country Reporting (CbCR), as part of its commitment to global tax transparency and international cooperation. The regime is applicable to multinational enterprise (MNE) groups operating in or through Gibraltar, subject to certain thresholds and conditions.

This guide outlines the key regulatory aspects, filing procedures, deadlines, and penalties relevant to CbCR in Gibraltar.

Regulatory Framework

• Authority: Gibraltar Income Tax Office (GITO)
• Legislation:
  • Income Tax (Country-by-Country Reporting) Regulations 2017 (Legal Notice No. 2017/020)
• International Engagement:
  • Signatory to the Multilateral Competent Authority Agreement (MCAA)
  • Member of the OECD Inclusive Framework on BEPS

CbCR Filing Requirements

• Who Must File:
  • Ultimate parent entities (UPEs) resident in Gibraltar with annual consolidated group revenue of EUR 750 million or more in the previous fiscal year
  • Gibraltar entities part of an MNE group may be required to file locally if:
    • The UPE is not obligated to file in its jurisdiction
    • No automatic exchange mechanism is in place with Gibraltar
• CbCR Notification:
  • Required from all Gibraltar constituent entities
  • Deadline: by the end of the reporting fiscal year
  • Notification must specify the reporting entity and its jurisdiction
• CbCR Submission:
  • Deadline: 12 months after the end of the reporting fiscal year
  • Submitted electronically via the Income Tax Office’s secure platform
  • XML format aligned with OECD schema

Penalties for Non-Compliance

• Failure to file: Financial penalties and potential legal proceedings
• Incomplete or inaccurate information: Additional penalties and potential audit
• The amount of penalties is assessed on a case-by-case basis but can be substantial for continued non-compliance

Important Considerations

• Gibraltar’s CbCR regime is consistent with the OECD standard and aligns with the EU Directive on Administrative Cooperation (DAC4)
• The data submitted will be used to assess transfer pricing and other BEPS-related risks
• Accurate, consistent, and timely reporting across jurisdictions is essential

Useful Resources

• Gibraltar Income Tax Office: https://www.gibraltar.gov.gi/income-tax-office
• OECD CbCR Guidance: https://www.oecd.org/tax/beps/country-by-country-reporting.htm