On 2 July 2018, Gibraltar's Chief Minister Fabian Picardo delivered the Budget Address 2018. The main tax-related measure for business is a new rule with respect to the transfer of losses when there is a change of ownership. Under current rules, loss carry-forward is lost if there is a change in ownership, including where the change in ownership is from one group company to another. Under the proposed rule, loss carry-forward will continue to be available where there is a change of ownership within a group, provided that there is no change of ultimate ownership and no change of business...