On 5 July 2016, Gibraltar's Chief Minister Fabian Picardo delivered the Budget Address 2016. The main measures of the Budget include: Import duty on a number of goods is reduced to 0%, while a 10% rate will apply on sugary drinks and on sugar, sweeteners or other derivatives used for the sweetening of drinks; A new start-up incentive scheme is introduced in the form of a GIP 50,000 tax credit per year for the first three years of operations for newly established businesses, provided the business is established by 30 June 2017, employs at least five employees in the first...