THERE is good news for landlords after it was confirmed they would receive tax concessions on property rented for residential purposes.

If you have constructed a property in Gibraltar after July 1 2016 you can receive a tax credit equal to the tax payable on the profits earned during your first 24 months of rent.

While the tax credit is not refundable it can be offset against any other tax owed.

The concession is, however, only available on construction projects until December 31 2018.