The Gibraltar Government Feb. 4 announced the introduction of a transaction tax (TT) and excise duties (ED) on imports. The announcement includes that: 1) the TT is anticipated to enter into force April 10 with the country’s customs treaty with the EU, both taxes will replace import duties, and the ED will apply to tobacco, fuel and alcohol; 2) the taxes will apply where goods will be placed for sale in the domestic market, and will be collected by His Majesty’s Customs, generally upon import; 3) the taxable TT base for goods will include taxes, duties, levies, excise duties, and ...