2. Sources of Law

a. Trusts

Main sources of legislation are the Trustees Act (based on various English statutes) and the Variation of Trusts Act 1958, an English statute in force in Gibraltar.

b. Property, estate and probate

The Administration of Estates Act, Wills Act, Powers of Attorney Act and several old English statutes, such as the Conveyancing and Law of Property Act, are in force.

c. Taxation

The principal tax in Gibraltar is income tax. The Income Tax Act deals with primary taxation of companies and individuals. Several Acts or Rules reduce or exempt income tax for companies, trusts and individuals.


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© 2012 Society of Trust & Estate Practitioners