Country Rankings - Andorra
Nov 14, 2013 Andorra: being transparentNovember 8: The Andorran Government announced the signing of the OECD Multilateral Convention on Mutual Administrative Assistance in Tax Matters.
Jul 18, 2013 Andorra: doing the minimumAndorra has come under immense pressure over the last few years from the EU and especially from its two "owners," France and Spain, to create a "modern" tax system, and it has dutifully obliged, with a raft of new taxes. So I shouldn't be complimenting it; but it had no choice, and has actually done it all in a way that involves very low rates and plenty of exemptions, so that its traditional business shouldn't suffer too much and only very wealthy people will end up paying not very much tax. I specially love it that Communist Francois Hollande is co-prince of Andorra, and I wish I had a picture of him in his robes. Does he wear a crown?
Dec 31, 2012 Andorra: being as unobtrusive as possibleRounding off this week's prize distribution, which will indeed be the last of the year, we need to include Andorra, which without especially tough pressure from fiscal mastodons such as the EU and the OECD has brought itself up to date in various ways and is now probably safe from major attacks while still offering an attractive fiscal bolt-hole for individuals and smaller corporates alike. It's difficult to know without actually being there whether the government's "opening-up" is as thoroughgoing as it pretends. Andorra was always for the Andorrans, and you have to wonder whether new laws allowing greater and quicker foreign participation in Andorran businesses are as real as they appear. Likewise, this tiny valley in the high Pyrenees claims to have adopted all necessary modern information-sharing laws, but will they really give up banking secrecy so easily, when it has been their main calling-card for the last hundred years? It used to be Andorras's boast that its bank accounts were known only to "the customer, the banker and God." Well, they say it is so, and the OECD agrees; so we'll give them the benefit of the doubt.