Spain has begun the process of removing Gibraltar from its list of tax havens, ending a designation that has remained in place since 1991.
The move follows the publication of a draft Ministerial Order by Spain’s Ministry of Finance, which would formally remove Gibraltar from the country’s list of “non-cooperative jurisdictions”. A seven-working-day public consultation has now opened and runs until 1 June 2026.
Spain says Gibraltar now meets its requirements for fiscal transparency and tax fairness. If approved, the change will come into force the day after publication in Spain’s Official State Gazette.
Gibraltar has been included on Spain’s blacklist since Royal Decree 1080/1991 classified it as a tax haven 35 years ago. However, Gibraltar has appeared on the OECD white list since 2009 and has never featured on the European Union’s own list of non-cooperative jurisdictions.
The issue was addressed in the International Tax Agreement between Spain and the United Kingdom regarding Gibraltar, which entered into force in March 2021. Spain committed to removing Gibraltar from the blacklist within two years, although that deadline passed without action.
Chief Minister Fabian Picardo welcomed the announcement, describing it as a “long-overdue and very welcome step”.
“For 35 years, Gibraltar has carried the label of a tax haven,” he said, adding that the delay had damaged Gibraltar’s economy and reputation despite its development into “one of the most transparent, well-regulated financial centres in the world”.
