During a recent official visit to France, the head of the Andorran government Antoni Marti Petit, accompanied by President of the Andorran parliament Vicenç Mateu Zamora, confirmed plans to introduce a range of taxes in the principality in 2012.
Bowing to mounting international pressure as it increasingly opens up to the outside world, Andorran Prime Minister Marti revealed plans to French President Nicolas Sarkozy to shortly submit to parliament a raft of texts introducing on the one hand a tax on individual income, a corporate tax and a value-added tax (VAT), and on the other a law liberalizing foreign investment.
During the course of the discussions, Prime Minister Marti also pledged to pursue greater fiscal transparency and move towards greater European integration.
Welcoming the announcement, President Sarkozy provided his assurances that France would fully support Andorra in implementing the planned reforms.
A comprehensive report in our Intelligence Report series giving detailed information on offshore jurisdictions in tabular form, titled "The Lowtax Offshore Charts: Country Characteristics and Taxation; Residence Guide", is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report4.aspTags: tax | law | offshore | investment | banking | expatriates | offshore banking | banking secrecy | offshore confidentiality | tax havens | international financial centres (IFC) | Andorra | France
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