Taxation

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exit-tax

What is Exit Tax and how is it imposed?

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When moving your home to a different country, there are many factors to be considered. These considerations may pertain to legal, administrative or housing requirements, or to the situation of children of school age. Furthermore, it is essential to have fulfilled one’s fiscal obligations to one’s current fiscal authorities, because the so-called “Exit Tax,” which is imposed by certain countries in the event of a change in fiscal residence, may apply. As this tax is now becoming increasingly important, this …

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externalitzar-fiscalitat-empresa-andorra

What are the benefits of outsourcing your company’s taxation?

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If one wishes to devote all of one’s time to the operation of a business, the best strategy is to outsource other tasks, such as taxes and taxation, to external specialists. Have you considered this possibility?There are many advantages to using taxation professionals, including their expertise, the saving of time, and the reduced risk of error.This section outlines the advantages of using a third party to handle your company’s taxation, thereby allowing the business owner to concentrate on the growth …

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Declarapp

New method for declaring the IGI in Andorra

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The Government of Andorra has presented ‘Declarapp’, a new application designed to facilitate the declaration of IGI (General Indirect Tax) on purchases made outside Andorran territory (whether or not they have benefited from tax-free status), as well on purchases made in online shops and collected by the Spanish Post Office and the Post Office. This change reflects the recent legislative changes in the field of taxation. The new tool represents another advance in the digitalisation of public administration in Andorra. …

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inversión-extranjera-inmobiliaria

New law affecting the tax on foreign investment in real estate

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If you are interested in investment opportunities in Andorra, or have already taken the first steps, you are probably aware that there has been a significant change affecting the acquisition of Andorran property by foreigners. We refer to a new tax on foreign investment in property. Announced in September last year, this measure brings to an end a temporary moratorium and marks a turning point in the conditions for those wishing to take advantage of the country’s potential.Find out how …

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Tax burden

What is the tax burden in Andorra?

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Andorra stands out for its fiscal competitiveness and its tax system, which is comparable to that of other countries. Its economic stability, underpinned by a sound fiscal policy, makes it an attractive location for investors looking for new opportunities abroad. Much of the available information focuses on what taxes are paid and at what rate, but less attention has been paid to the way in which they are collected. In this article, we discuss the tax burden in Andorra, another …

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How much tax do you pay in Andorra?                       

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If you’ve been considering investing in Andorra, one of the factors that probably made you choose our country is the low tax burden compared to your place of residence. The good quality of life, natural surroundings and ideal geographical location between Spain and France are just some of the other aspects that are most attractive to people looking to invest in our small country. Table of contents: Taxation in Andorra Corporate tax in Andorra Personal Income Tax IGI: Andorran VAT …

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acord-duaner

CUSTOMS UNION AGREEMENT BETWEEN ANDORRA AND THE EUROPEAN UNION                

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Andorra is one of the smallest states in Europe and the only country in the world with a parliamentary co-principality. But these are not the only peculiarities of the Principality. Its small size, its geographical enclave, its political tradition and other historical factors have given Andorra a special relationship with the European Union. Table of contents Before and after 1990 Customs Union Agreement and TEC (Common External Tariff) Customs Union and Consumption Tax Agreement Customs Union Agreement and travellers’ duty-free …

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Guide to opening a business in Andorra in 2023                                                     

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The Principality has become a magnet for foreign businessmen wishing to set up in Andorra and take advantage of its many benefits. These include its excellent taxation conditions, its high quality of life and its geographical location between France and Spain, with good communications. In 2021 alone, 916 applications for foreign investment were approved and formalised. This demonstrates the Principality’s great potential. If you are thinking of opening a business in Andorra from abroad, this article is for you. Table …

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digital-assets-law

New law governing digital assets and blockchain in Andorra                                                    

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Andorra has approved the digital assets law that regulates cryptocurrencies and blockchain technology. More specifically, it is Law 24/2022, of 30th June, governing the digital representation of assets by means of cryptography, distributed ledger technology and blockchain. The purpose of this law is to position the country as a reference in new technology and as an attractive place for foreign companies and investors who want to establish themselves with projects connected with this area. To that end, the Government has …

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Draft law to modify the law governing foreign investment in Andorra                            

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The draft to modify the 2012 law governing foreign investment in Andorra has been presented. The main aims of this reform are to conform to other countries’ standards in this field and to streamline the procedure for certain investments. Apart from this major change, the new regulatory framework also provides for a system of subsequent control and for a penalty system, neither of which existed previously. It is worth noting that foreign investment currently represents 18.7% of Andorra’s GDP, and …

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