Spain to Remove Gibraltar from Tax Blacklist After 35 Years

After 35 years, Spain has initiated the process to remove Gibraltar from its list of non-cooperative tax jurisdictions. This move follows the publication of a draft Ministerial Order by Spain's Ministry of Finance, recognizing Gibraltar's compliance with fiscal transparency and tax fairness standards.

Historical Context

Since 1991, Gibraltar has been classified by Spain as a tax haven, a designation that has persisted despite Gibraltar's efforts to establish itself as a transparent and cooperative jurisdiction. The draft Order proposes to remove Gibraltar from this list, acknowledging the territory's adherence to international tax standards.

Implications of the Removal

The removal from Spain's tax blacklist is expected to have significant positive implications for Gibraltar's economy and its international reputation. It may facilitate smoother economic relations between Gibraltar and Spain, attract more foreign investment, and enhance Gibraltar's standing in the global financial community.

Next Steps

The draft Order has been submitted for a seven-working-day public consultation, which opened on 22 May 2026 and closes on 1 June 2026. Once the consultation period concludes, the Order will enter into force the day after its publication in Spain's Official State Gazette, the Boletín Oficial del Estado.

For more information, refer to the official press release: Spain Moves to Remove Gibraltar from Tax Blacklist After 35 Years - 394/2026