GIBRALTAR’S chief minister has been targeted by the Spanish taxman in the latest attempt to deflect attention away from the PP corruption scandal.
Fabian Picardo and various other members of Gibraltar’s government are being investigated to ensure they are complying with Spanish tax regulations.
Picardo owns two properties on the Costa del Sol, one in Sotogrande and another near Benahavis.
Many Gibraltarians have houses or apartments on the Costa del Sol, parts of which are within a 15 minute drive of the border.
The properties are often owned by Gibraltarian companies and classified as second residences and as a result the owners pay very little tax.
In a front page article entitled ‘Hacienda investigates Picardo’s fortune’ Spanish right wing paper ABC highlighted the two properties that Picardo owns. Picardo frequently rents the property out.
Both properties are in Picardo’s name, while the Sotogrande villa is also in the name of his wife, which means that it totally complies with Spanish law.
The Benahavis property is frequently rented out, while Picardo took out a mortgage on the Sotogrande property after buying it in 2006.
ABC calculates that Picardo has invested a total of €1.4 million through the purchase of both properties.
Hacienda has stated that the probe is part of an investigation into financial irregularities in Gibraltar.
A source close to Picardo told the Olive Press that he would not be making a statement.
“He bought these properties when he was a lawyer well before he went into politics.
“He has done absolutely nothing wrong so why should he make a statement?”
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