testdata.txt

 economy of gibraltar economy   overview gibraltar benefits from an extensive shipping trade  offshore banking  and its position as an international conference center  the british military presence has been sharply reduced and now contributes about _numeral_  to the local economy  the financial sector accounts for _numeral_  of gdp  tourism  almost _numeral_ million visitors in _numeral_  shipping services fees  and duties on consumer goods also generate revenue  in recent years  gibraltar has seen major structural change from a public to a private sector economy  but changes in government spending still have a major impact on the level of employment gdp purchasing power parity    _numeral_ million  _numeral_ est gdp   real growth rate na gdp   per capita purchasing power parity    _numeral_ _numeral_  _numeral_ est gdp   composition by sector br agriculture na industry na services na population below poverty line na household income or consumption by percentage share br lowest _numeral_ na br highest _numeral_ na inflation rate  consumer prices _numeral_ _numeral_   _numeral_ labor force _numeral_ _numeral_  including non gibraltar laborers labor force   by occupation services _numeral_  industry _numeral_  agriculture negl unemployment rate _numeral_   _numeral_ budget revenues _numeral_ million expenditures _numeral_ million  including capital expenditures of  na  fy_numeral_ _numeral_ industries tourism  banking and finance  ship repairing  tobacco industrial production growth rate na electricity   production _numeral_ gwh  _numeral_ electricity   production by source fossil fuel _numeral_ hydro _numeral_ nuclear _numeral_ other _numeral_   _numeral_ electricity   consumption _numeral_ gwh  _numeral_ electricity   exports _numeral_ kwh  _numeral_ electricity   imports _numeral_ kwh  _numeral_ oil   production _numeral_ barrel day  _numeral_ est oil   consumption _numeral_ _numeral_ barrel day  _numeral_ _numeral_ m d  _numeral_ oil   exports na  _numeral_ oil   imports na  _numeral_ agriculture   products none exports _numeral_ _numeral_ million  f o b  _numeral_ exports   commodities principally reexports  petroleum _numeral_  manufactured goods _numeral_  other _numeral_ exports   partners uk  morocco  portugal  netherlands  spain  us  germany imports _numeral_ million  c i f  _numeral_ imports   commodities fuels  manufactured goods  and foodstuffs imports   partners uk  spain  japan  netherlands currency _numeral_ gibraltar pound   _numeral_ pence exchange rates gibraltar uses the pound sterling gbp gibraltar pounds per us _numeral_   _numeral_ _numeral_  _numeral_  _numeral_ _numeral_  january _numeral_  _numeral_ _numeral_  _numeral_  _numeral_ _numeral_  _numeral_  _numeral_ _numeral_  _numeral_  _numeral_ _numeral_  _numeral_  _numeral_ _numeral_  _numeral_ fiscal year _numeral_ july   _numeral_ june gibraltar is a well known and regulated international finance centre and has been a popular jurisdiction for european off shore companies gibraltar s legal system is based on english law  but is separate from the english legal system  tax exempt companies  which must not trade or conduct any business locally  are taxed at a flat rate of up to  _numeral_ a year  gibraltar has not signed any double taxation treaties  non resident businesses do not pay income tax unless the source of this income is gibraltar proper  there is no tax on capital income in gibraltar there is no capital gains tax  wealth tax  sales tax or vat  import duty is payable on most items at _numeral_  the main tax for companies is income tax  and social insurance contributions  there are also stamp duties on certain transactions  and property taxes  rates non resident companies can take advantage of a number of offshore regimes in order to reduce taxation  although in line with the elimination of unfair tax practices this is being phased out  individuals pay quite high taxes on their income in gibraltar unless they are able to take advantage of high net worth individual status or gain exemption as an expatriate executive  there is a moderately high estate duty  and import duties are quite high on some items assessment and collection of tax is administered by the commissioner of income tax  the tax year runs from _numeral_st july to the following _numeral_th june disclaimer  tax rates may vary and information here may be incorrect or out of date there is no vat in gibraltar levied at the rate of _numeral_  of relevant income  gaming yield for on line casinos and bets placed for on line bookmakers  capped at  _numeral_ _numeral_ with a minimum payable of _numeral_  of the cap figure levied on goods imported into gibraltar  mostly at _numeral_ levied mainly on spirits  wines  tobacco and mineral oils employed persons contributions resident companies full rate _numeral_ small companies rate _numeral_ marginal relief _numeral_ _numeral_ small companies  rate applies if taxable profits do not exceed  _numeral_ _numeral_ and the company derives at least _numeral_  of its turnover from trading between  _numeral_ _numeral_ and  _numeral_ _numeral_ the full rate applies less marginal relief on the difference between  _numeral_ _numeral_ and taxable profits on dividends _numeral_ on interest paid to resident individuals _numeral_ on interest paid to resident companies _numeral_ on interest paid to non residents _numeral_ in addition  no tax is payable on dividends between gibraltar companies tax rate amount  irrespective of profits  ordinarily resident flat rate of  _numeral_ per annum non resident flat rate of  _numeral_ per annum companies incorporated in gibraltar which do not trade  earn or remit income to gibraltar are not liable to corporation tax duty is on a scale as follows the gibraltar government website the financial services commission