GibraltaSpain is to ask that Gibraltar be placed back on the black list of financial havens, with the Spanish tax authority, Hacienda, considering that the Rock is not cooperating in the fight against money laundering.
Spain is to ask the OECD, the Organisation for Economic Cooperation and Development, to list Gibraltar as ‘uncooperative’, with a Hacienda spokesman saying that no advances have been made in collaboration over fiscal and tax matters, and that Gibraltar remains opaque, inaccessible and impenetrable.


El País carried a two page report yesterday, Sunday, saying that the information received by the Agencia Tributaria is ‘scant and hardly useful’. For example, the Spanish Government claims that Gibraltar is not helping at all in the Ballena Blanca operation against money laundering based in nearby Marbella.

Hacienda says that other territories, such as Jersey, those based in the Caribbean and even Andorra, are supplying greater information to them in the fight against money laundering.

There are 28,000 active companies on the rock, in addition to an unknown number of foundations and trusts. 115 lawyers and 28 lawyers offices are based there, engaged, according to El País, in activities which are outside the control of the financial authorities. 19 banks and 10 branches of international banks have offices on the 6.5 square kilometers of the peñon.

The newspaper says the Gibraltar Government, led by First Minister, Peter Caruana, has declined to comment on a set of questions sent to him by the paper. Other bodies such as the FSC, Financial Services Commission, or the Gibraltar Financial Intelligence Unit, both referred the paper to ask the Government spokesman.

Meanwhile over the border on the Costa del Sol the whole subject of money laundering and the activities of the UDYCO specialist National Police unit has been highlighted in the news following the arrest of the four police chiefs from the unit who have been accused of corrupt activity themselves. Two of the four were remanded to prison without bail on Friday.

Source: Typically Spanish