What is the role of the independent experts in relation to transaction tax and excise duties under the 2026 UK/EU Treaty for Gibraltar?

Short answer

An independent consultative body appointed by Gibraltar and Spain will assess the effect of tax rates on market conditions. It may recommend higher or lower rates where significant trade distortions exist between Gibraltar and Campo de Gibraltar. The lower rate can be up to 2% below any EU Member State's rate but never below 15%. A safeguard clause may be triggered by the EU for non-compliance with recommendations.