Spain removes Gibraltar from tax haven list after 35 years, adds Russia
Spain's Finance Ministry published an order today removing Gibraltar and five other jurisdictions from the country's list of tax havens after verifying effective tax information exchange. Russia is added due to a harmful tax regime.
Gibraltar removed after 35 years
Spain's official state gazette published a ministerial order today that removes Gibraltar from the list of non-cooperative jurisdictions, where it had been listed for 35 years. Also delisted are Barbados, Dominica, Samoa, Seychelles and Trinidad and Tobago. At the same time, Russia enters the list because of a regime considered harmful, aligning with a prior EU decision.
The Finance Ministry, led by Arcadi España, said the order was opened to public consultation from 22 May to 1 June. The final publication comes one day after the consultation period closed.
At last a historic injustice of more than 30 years has been corrected. The result will mean a lot for many people with cross-border interests, companies, workers and those with second homes in Spain.
Why Gibraltar was delisted
The ministry explains that Gibraltar has achieved effective exchange of tax information with Spain, one of the legal requirements for exiting the list. A bilateral agreement on tax cooperation signed between the two has been verified as fully operational. Gibraltar also participates in the Global Forum on Transparency and Exchange of Information for Tax Purposes and has signed the relevant international accords.
Furthermore, the ministry notes that Gibraltar no longer maintains a low or zero taxation regime under the parameters set by the OECD. The territory is part of the inclusive BEPS framework and has ratified the OECD Pillar II agreement, which commits it to a global minimum corporate tax and other international standards.
Russia added to the list
Russia is now classified as a non-cooperative jurisdiction because it maintains a tax regime deemed harmful, the ministry says. The decision follows the same designation adopted earlier by the European Union.
What the change unlocks
The delisting is part of a broader Spain–UK–EU agreement that also foresees the removal of the Gibraltar border fence, scheduled for 15 July. The Spanish government says the pact will benefit 300,000 Andalusians in the Campo de Gibraltar area, boosting economic opportunities and institutional stability.
- Public consultation on the updated list of non‑cooperative jurisdictions opens.
- Public consultation closes.
- Ministerial order published in BOE, officially removing Gibraltar and five other territories from the list.
- Scheduled removal of the Gibraltar border fence under the Spain–UK–EU agreement.
Next steps
With the ministerial order now in force, Spanish tax authorities will treat Gibraltar and the other five removed territories as standard jurisdictions for fiscal purposes. The border fence dismantling remains on track for mid-July, while Russia's new status may trigger tighter reporting requirements for Spanish taxpayers with ties to the country. The ministry indicated that the list will continue to be reviewed against evolving OECD and EU criteria.
