As far back as 1180BCE, people have been trying to legitimately reduce their taxes. The Europa Group reports on the oldest known legal tax dispute in Europe, which you might not have known about.

Eritha, was a priestess in ancient Greece around 1180 BCE. Priestesses held positions of power and as a priestess, Eritha had economic independence, land, social prominence, and authority over at least 14 servants, who assisted her with religious duties.

During this time, Eritha became involved in a legal dispute over the status of her lands, against the local damos, (a quasi-independent village community which represented other landholders). Historical records show that Eritha claimed that part of her land was held on behalf of her deity, and therefore subject to reduced taxes. She argued that by categorising the land as being held “for the god,” it carried a religious status and should have been excluded from her personal property — thereby lowering her tax obligations.

How Do We Know About this Legal Tax Dispute?

The dispute over Eritha’s land is recorded on two clay tablets. Normally, in Ancient Greece, clay tablet records were retained for only one year and then destroyed. So, how did these tablets survive? The answer is that in the months following the dispute, the palace, where the records were being kept, burned down. The fire accidentally baked the tablets, preserving them and leaving us with a glimpse into this ancient case. Sadly, the outcome of the dispute is lost in time, but the tablets record the oldest known legal tax dispute in Europe.

What Could Have Been a Modern-day Solution for Eritha?

Perhaps Eritha should have considered placing her assets into a Gibraltar holding company.

• Gibraltar has a reputationally sound taxation regime, which has passed scrutiny from the European Union as well as organisations such as the OECD and Moneyval.
• The legal system in Gibraltar is based on English Common Law, with some local statue law variations.
• There is no tax on profits earned outside Gibraltar — a Gibraltar company conducting profit-making activity abroad will not suffer tax on those profits.
• Gibraltar companies pay a low corporate tax rate of 15%, but only on profits accrued in or derived from Gibraltar.
• Above all, you can start and manage your Gibraltar company from the comfort of your own home (or Temple, in the case of Eritha).

Now is the Time to Work with The Europa Group

Europa Trust Company Limited is part of the Europa Group. We have been based in Gibraltar for 40 years and have built a reputation as a stable and reputable business.

We provide a comprehensive range of company and trust formation and management services including company and trust administration, foundations, partnerships, corporate directors, shareholders and secretaries, accounting, marine registration and other associated services. 

Our clients are an eclectic mix of international executives, authors, sportsmen, corporations, wealthy individuals, families and many more. Their individual interests and needs are at the centre of our focus. Each client benefits from the experience and multi-jurisdiction knowledge of a dedicated Europa Group professional.

The Europa Group is authorised and regulated by the Gibraltar Financial Services Commission.

If you are thinking of changing your company management, Contact us today to find out how we can help you.