It has recently emerged that Spain and Andorra have signed a bilateral Tax Information Exchange Agreement (TIEA).
Spain’s Second Deputy Prime Minister and Finance Minister, Elena Salgado, and Andorra’s head of government, Jaume Bartumeu, signed the agreement between the two countries, enabling Spanish tax authorities to obtain all relevant tax information necessary for the effective control of its domestic taxpayers.
According to Apin, the agreement marks a significant step forward in terms of measures designed to prevent tax evasion and international tax fraud.
Following a series of meetings between the Spanish Finance Ministry and Andorran authorities, and following the work undertaken by the G20, Andorra expressed its commitment to adapting its legislation to comply with the Organization for Economic Cooperation and Development’s standard on tax information exchange.
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