Gibraltar published the Income Tax (Amendment No. 2) Act 2024 in the Official Gazette on 23 December 2024, which provides for the introduction of new rules for the taxation of profits from the sale of residential properties. The new rules provide that where any person owns or holds, directly or indirectly, including through a property holding entity: five or more taxable properties, whether in whole or in part; or an aggregate in five or more taxable properties, whether in whole or in part, over five consecutive basis periods, the following shall be chargeable to tax under the provisions of the...