The Resource Andorra : exchange of information and new tax system in the context of the OECD's and EU's initiatives

Andorra : exchange of information and new tax system in the context of the OECD's and EU's initiatives

Label
Andorra : exchange of information and new tax system in the context of the OECD's and EU's initiatives
Title
Andorra : exchange of information and new tax system in the context of the OECD's and EU's initiatives
Creator
Subject
Language
eng
Summary
Andorra, a microstate located in the Pyrenees, between France and Spain, used to be characterized by strict bank secrecy and the absence of direct taxes on income. However, given the pressure exerted by the European Union and, especially, by the OECD, Andorra finally committed in 2009 to exchanging tax information upon request according to the OECD standards. Since then, Andorra has introduced important legal reforms following these standards, in a process which is still evolving and which may even lead to automatic exchange of information in the near future. Moreover, as a result of the crisis suffered in recent years, Andorra has also undergone a complete reform of its tax system and has approved, for the first time in the history of the country, a corporate and a personal income tax, even though the fiscal pressure is still very low. The aim of this article is to systematically analyse this major transformation of the Andorran legal framework in the context of the initiatives undertaken by the EU and the OECD in tax matters
Citation source
In: Intertax. - Alphen aan den Rijn. - Vol. 43 (2015),
http://library.link/vocab/creatorName
Vega, A
Geographic coverage
Europe
Language note
English
http://library.link/vocab/subjectName
  • exchange of information
  • bank secrecy
  • tax system
  • tax reform
  • withholding tax
  • corporate income tax
  • individual income tax
Label
Andorra : exchange of information and new tax system in the context of the OECD's and EU's initiatives
Instantiates
Publication
Label
Andorra : exchange of information and new tax system in the context of the OECD's and EU's initiatives
Publication

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