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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