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Today’s Top Headlines

Tax Perks To Fuel Andorran Gambling Hub

by Ulrika Lomas,, Brussels

10 April 2014

Andorran Minister of the Presidency, Antoni Riberaygua, has provided his assurances that the Government's new gambling bill will include an attractive and competitive tax regime to attract operators.

Riberaygua explained that the Government is still finalizing details of the future levy, comparing gambling taxes applied in neighboring jurisdictions. He said that Andorra's new tax must be attractive to operators as the Government believes that the gambling industry will become the new driver of the Andorran economy. Tax deductions will be accorded to casinos offering overnight accommodation, he added.

The Minister insisted that although bordering Catalonia imposes a casino tax of 10 percent on gross revenue – heavily reduced last year from 55 percent as an incentive for super casinos – it does not necessarily follow that Andorra will impose a lower tariff. Existing taxes in the Principality will be taken into consideration, including Andorra's low rate of corporate tax, he said.

Andorra's gambling bill lays the foundations for a legalized off- and online gaming industry. The Government plans to submit the proposed draft legislation to parliament in the current session so that the text can be adopted by the end of the year. This will allow the first international casinos to open in 2015 or 2016.

TAGS: tax | gambling tax | corporation tax | gambling | legislation | tax rates | tax breaks | Andorra | Tax

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