Abridged balance sheet and abridged accountsExempt Status: Subject to the conditions set out below, a offshore company incorporated in Gibraltar tax haven may apply for a Tax Exemption Certificate. Possession of such certificate will, in return for the payment of a fixed annual tax, exempt the company from further taxation in Gibraltar. A Tax Exemption Certificate is issued for a period of 25 years.As Gibraltar is a EU territory, the requirements of the European Union 4th and 7th Directive on Company Accounts are implemented in the Gibraltar legislation. All limited companies, including offshore, are required to submit certain bits of financial information to the Registrar of Companies. This does not in any way relate to taxation! All companies qualifying as "small" are not required to file audited accounts. To qualify as "small", a company must satisfy at least two of the three requirements: Net annual turnover below GBP 4.8 million, total balance sheet value below GBP 2.4 million and the number of employees below 50. Small companies are only required to file abridged accounts - or simplified balance sheets, abridged balances sheets. These can in most cases be prepared by us as Company Secretaries, given that the beneficial owner provides us with certain amount of information. Medium-sized companies filing as for large companies except that the profit and loss account may be in an abridged format. Small companies required to file abridged balance sheet only. Learn more on abridged balance sheet and abridged accounts. Go to Top 
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