Gibraltar is not part of the UK, can set its own tax rates and has been using them to aggressively undermine us as much as, if not more than, everyone else. A Gibraltarian growth industry in recent years has been online gambling, with most of the big UK operators – William Hill, Ladbrokes, Bet365 – moving their operations to Gibraltar. There are now 30 gaming companies in Gibraltar. There are more than 60,000 companies registered in Gibraltar (two for every resident) . According to media reports quoting a confidential EU investigation, the Rock imported 117m packets of cigarettes in 2013, enough for every Gibraltarian to smoke almost 200 a day. The cigarettes didn’t stay there, however; they were passing through. This epic smuggling operation may have cost EU countries €700m in lost tax revenues over four years.
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