Taxes in Andorra
The Principality of Andorra is a dwarf state located in the eastern part of Europe. Despite the fact that the country is landlocked, it is in demand among tourists, businessmen and investors.
The capital of the state is Andorra la Vella. The country's population is 76 people. Andorra is a developed country, which millions of tourists strive to visit every year, and foreign corporations and businessmen choose this particular jurisdiction to successfully conduct commercial activities.
The state has created favorable conditions for the development of entrepreneurship. Taxes in Andorra are among the lowest in Europe, and the well-developed banking sector brings maximum economic benefits.
The main income to the state treasury comes from tourism activities, which cover up to 80% of GDP. Ski resorts are especially popular. In addition, tobacco and potatoes are grown in the state.
The local influence on the part of the state in relation to the banking sector deserves special attention. The country maintains high secrecy over bank accounts, and there is no control over the movement of currency and capital. At the same time, strict legislation regulates the transparency of all banking operations.
That open a business in Andorra It is necessary to have a good understanding of local laws and taxes. The specialists of the E-COMMERCE BROKER Company will become reliable assistants when registering an organization in the territory of the Principality of Andorra, as they have a sufficient information and practical base to work in this jurisdiction.
Tax fees in Andorra
Andorran tax system in recent years has undergone many modernizations aimed at improving the economic situation. On the territory of the principality, the main types of companies are:
- limited liability company SL;
- joint stock company SA,
In addition, foreigners can form various funds and holdings in the country. Taxes are imposed on the activities of both residents of Andorra, that is, those who are registered in the principality and conduct commercial activities here, and non-residents.
The main types of taxes in the principality are:
- Corporation tax is imposed on a company's income. For residents, the tax base is global income, for non-residents - only profit received from activities carried out in Andorra.
The standard tax rate is 10%. Those companies engaged in trading and holding activities, managing patents, copyrights and trademarks can expect a reduced rate of 2%. In addition, a 10% tax is imposed on all capital gains of the company.
- VAT has a standard rate of 4,5%. For banking and financial services the figure is 9,5%. For services and goods such as food, water, books and educational services, a 1% rate applies.
Help from the E-COMMERCE BROKER Company
Any commercial organization operating in the territory of the Principality of Andorra is required to maintain accounting and tax records. Specialists of the E-COMMERCE BROKER Company provide comprehensive assistance to all companies and businessmen operating in this jurisdiction, which includes:
- bookkeeping;
- preparation of tax reports;
- business registration in Andorra;
- selection and hiring of personnel;
- opening a bank account;
- obtaining licenses and permits.
With our support, you can quickly and easily open a business and start earning income in the shortest possible time!
