What is Gibraltar's Mandatory Disclosure Regime (MDR)?
Gibraltar is not part of the UK, but contrary to all other British Overseas Territories, it was a part of the European Union like the UK. Gibraltar participated in the Brexit referendum and it ceased, by default, to be a part of the EU upon the UK's withdrawal. On 21 January 2021, the Gibraltar Competent Authority for the exchange of information for tax purposes announced that Gibraltar is limiting the scope of reporting under DAC6. This was following the approach recently adopted in the UK in light of Brexit.
This means that reports only need to be made for arrangements that fall under the OECD’s MDR, namely arrangements included in the Category D hallmark of DAC6. This hallmark captures arrangements undermining automatic exchanges of information or obscuring beneficial ownership.