UK, Gibraltar do deal on withholding tax

The deal follows others structured between the UK government representing Great Britain and Northern Ireland, and financial authorities in former colonies or Crown dependencies such as Jersey and Guernsey, which have different legal standing with regard to their position in the European Union. Causing these negotiations is the directive on taxation of savings income, with HM Treasury and its ilk in other EM member states keen to ensure that citizens do not place savings in other EU member states to avoid income tax. However, offshore centres such as Jersey, non-EU states such as Switz...