What is Exit Tax and how is it imposed?

When moving your home to a different country, there are many factors to be considered. These considerations may pertain to legal, administrative or housing requirements, or to the situation of children of school age. Furthermore, it is essential to have fulfilled one’s fiscal obligations to one’s current fiscal authorities, because the so-called “Exit Tax,” which is imposed by certain countries in the event of a change in fiscal residence, may apply. As this tax is now becoming increasingly important, this …

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Assessment of foreign investment in property in Andorra in 2023

En 2023 el volumen de inversión extranjera inmobiliaria aumentó, pero se frenaron las peticiones.La inversión en inmuebles por parte de extranjeros aumentó en Andorra un 40 %, aunque se recibieron 71 solicitudes menos. En cuanto a la inversión extranjera directa, se observó una disminución del 19,1 % en la presentación de solicitudes y una caída del 28,9 % en el volumen global. En conjunto, se registraron 1.012 peticiones para invertir en Andorra, lo que representa 239 solicitudes menos que en …

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What are the benefits of outsourcing your company’s taxation?

If one wishes to devote all of one’s time to the operation of a business, the best strategy is to outsource other tasks, such as taxes and taxation, to external specialists. Have you considered this possibility?There are many advantages to using taxation professionals, including their expertise, the saving of time, and the reduced risk of error.This section outlines the advantages of using a third party to handle your company’s taxation, thereby allowing the business owner to concentrate on the growth …

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The digital euro: how will it affect us and what will be the result?          

The European Central Bank is engaged upon the development of a common digital currency for use within the eurozone. The digital euro project is currently in the preparatory phase and is not scheduled for introduction until 2027 at the earliest, with a phased implementation. Since the European Central Bank initiated its planning for the digital euro in July 2021, progress has been made, but there are still several aspects to be resolved. Some of them have already been identified. Table …

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The advantages of retiring in Andorra – a complete guide

In addition to its appeal as a location for investors seeking to establish businesses, Andorra is a tranquil and advantageous place in which to retire. Retirement in Andorra has several advantages, including favourable economic conditions and a high quality of life. One of the most appealing aspects of Andorra is its reputation for being a safe country. Andorra is also an ideal natural environment located in the Pyrenees. This is an ideal place for those who value direct contact with …

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New method for declaring the IGI in Andorra

The Government of Andorra has presented ‘Declarapp’, a new application designed to facilitate the declaration of IGI (General Indirect Tax) on purchases made outside Andorran territory (whether or not they have benefited from tax-free status), as well on purchases made in online shops and collected by the Spanish Post Office and the Post Office. This change reflects the recent legislative changes in the field of taxation. The new tool represents another advance in the digitalisation of public administration in Andorra. …

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An Association Agreement between Andorra and the European Union

Andorra is a microstate in Europe. It is neither part of Spain nor part of France, although it shares cultural characteristics with its neighbours due to its geographical proximity. Like other countries of its type in Europe, it does not belong to the European Union or the European Economic Area. However, it has had agreements with the EU since 1990. The country is currently negotiating an association agreement to widen relations with the EU, and to give it access to …

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New law affecting the tax on foreign investment in real estate

If you are interested in investment opportunities in Andorra, or have already taken the first steps, you are probably aware that there has been a significant change affecting the acquisition of Andorran property by foreigners. We refer to a new tax on foreign investment in property. Announced in September last year, this measure brings to an end a temporary moratorium and marks a turning point in the conditions for those wishing to take advantage of the country’s potential.Find out how …

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How does one implement an EoR in one’s business strategy?  

When a company wants to make the leap to the international level, it can either establish itself in the host country or perform its activities through an Employer of Record (EoR), an option that offers numerous advantages. In this article, we discuss how to effectively implement the Employer of Record in one’s business strategy. Table of contents: How does an Employer of Record work?When does one need the services of an EOR?Incorporating the EoR strategy into one’s business strategyThe benefits …

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What is an Employer of Record and how can these help you?      

When a company wants to expand beyond its borders, it faces the challenge of managing employees in different countries. This is where the concept of the Employer of Record (EoR), also known as the legal or local employer, comes in. The EoR has become an essential figure for companies that decide to grow in countries in which they have no headquarters. Table of contents: What is an Employer of Record (EoR)?What can an Employer of Record do for your business? …

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