Tuesday, January 25, 2005

Solbes welcomes exempt company phase out

Pedro Solbes, Spain’s minister of finance and a senior member of the PSOE Government have welcomed the EU Commission's proposals to phase out exempt companies in Gibraltar.

Sr Solbes said he had liked the announcement but wished it had been “more restrictive”.

The move still gives too many companies too much time to continue with improper practices that are detrimental to the Spanish economy, he said.


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