Service Tax Changes Afoot In Andorra, Report Reveals
Andorra's government is likely to broaden the scope of its services tax, according
to investment, property and tax experts, Servissim. In its September newsletter, the Andorra-based firm revealed that the tax,
which is already payable by banks in the jurisdiction, will likely be extended
to cover the majority of service providers (including estate agents and the
liberal professions) when the Council-General meets in the Autumn. However, there are fears that the 7% tax on fees and commissions charged will
be passed on to clients. Meanwhile, it emerged recently that the tiny European jurisdiction has been
doing its bit to assist in the international crackdown on money laundering.
According to reports, a non-resident Briton was arrested as part of a coordinated
swoop by Andorran and British police. Servissim revealed that 16 other suspects
were arrested in the UK hours later. The man, known only as 'M.J.D' for official purposes stands accused of laundering
some 1.46 million euros in drug proceeds. .
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