The Gibraltar Commissioner of Income Tax has issued guidance on the principles implemented by the Income Tax Office (ITO) in determining whether income is accrued in and derived from Gibraltar. The guidance provides that the basic rule is that in deciding whether or not profits of any person accrue in and are derived from Gibraltar, the ITO will look at what the person has done, or proposes to do, to earn the profits in question, and where the person has done it, or intends to do it. Further,…