From: El Pais
The deal creates new bilateral framework to address relations between the Rock and the surrounding territory
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The agreement forces Gibraltar to meet G-20 and OECD standards on transparency and good tax practices, and gets the UK involved in ensuring that in June 2020 the overseas territory will incorporate World Health Organization conventions on tobacco controls and tobacco smuggling; a cigarette traceability system must also be implemented. In order to fight the smuggling of products with special taxes, the UK will introduce taxes on alcohol and petroleum in the Rock.
Besides the protocol, which is the only legally binding document, Spain and Britain have also agreed on four Memorandums of Understanding (MOUs) that provide greater detail about citizens’ rights, tobacco and other products, environmental cooperation, and cooperation on law enforcement and border control. There is also a commitment to negotiate a treaty on taxes and the protection of financial interests.
