Reducing the countries that consider Andorra as a tax haven

Following the economic reforms and financial , as well as changes in the model adopted Andorran legislation during the last decade, the Principality of Andorra has currently a broad endorsement of the international community.

In fact, only five countries still qualify the Principality of Andorra as a tax haven. It Lithuania, Croatia, Poland, Greece and Portugal. But it is expected that in the near future, this list is reduced to four countries since last February ratified double taxation agreement (CDI) between Andorra and Portugal.

BULGARIA ELIMINATES LIST OF TAX HAVENS OF ANDORRA

In the latest updated list with the list of tax havens from the European Commission, published in 2015, a total of ten countries considered the Principality of Andorra as a tax haven .

The result of the measures taken by the Andorran government to advance the transparency of financial activity in the past two years Belgium, Italy, Estonia, Latvia and Bulgaria, from the month of February- have eliminated the Principality of Andorra list of states with a preferential tax regime.

The European Union has been fighting for years against fraud and tax evasion. Currently, the ministers of economy and finance of the European Union (ECOFIN) work in developing the European list of tax havens , according to criteria agreed by all member states. The publication of the list of European tax havens is scheduled for late this 2017.