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Standard&Poor’s keeps the rating of Andorra in 2014 at the level of A-/A-2

Standard&Poor’s, one of the leading international rating agencies, has published the report about economic forecasts of Andorra for 2014. In accordance to the information, provided by the agency, the credit rating of the Principality’s paying capacity is estimated to be A-/A-2. Negative rating is explained by the fact that post-crisis economic growth is at its …

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The Governmental official claimed that the bill on gambling, that was being prepared, would be extremely attractive for potential operators

The Minister of Andorran Presidency Antoni Riberaygua claimed that the bill on gambling that was being developed would be of maximum attractiveness for potential operators. He also said that the Government was analyzing the tax regimes of neighbor European countries where gambling is not prohibited.

He emphasized that the government plans to develop most competitive variants …

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Crisys together with the necessity to assure business liquidity are the major reasons for the increase of illegal cash import to the territory of Spain from Andorra

Crisys together with the necessity to assure business liquidity are the major reasons for the increase of illegal cash import to the territory of Spain from Andorra, said a representative of Catalan Government.

Inma Manso, a representative of Catalan Government in Lleida city, claimed that crisys and the necessity to assure business liquidity caused a significant …

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The exchange of information on bank account income taxes between EU countries in regard to the banks of Switzerland, Lichtenstein, Monaco, Andorra and San-Marino may start from 2017

The exchange of information on bank account income taxes (the incomes of the clients, obtained from their deposits) between EU countries in regard to the banks of Switzerland, Lichtenstein, Monaco and San-Marino may start from 2017. The corresponding decision was taken this week by EU countries. In accordance to the opinion of Algirdas Šemeta, EU …

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MoraBanc announced the opening of a new branch in Luxembourg—Asset Management Luxemburg SA

MoraBanc announced the opening of its new branch – investment trust in Luxemburg, that started its activity from February 11 under the name Asset Management Luxemburg SA. A representative of the bank states,  it is a significant increase of bank investments beyond the borders of the Principality.

It should be mentioned that MoraBanc is present in …

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Air Andorra completed the agreement with 5 Russian airlines on launching the routes Moscow-Barcelona-Andorra

AndAir (Air Andorra) plans to launch regular flights Barcelona-Andorra-Barcelona in 2014. This was announced by a representative of the company. In accordance to his words, in spite of the fact that  Andorran investors have pulled out of the project, the company is within the time limits and first regular flights between El Prat airport (Barcelona) …

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Andorra builds up a new structure of tax and customs administration

The Minister for finances of Andorra Jordi Cinca and the Director of Andorran tax service Albert Hinojosa told about legislative initiative related to the establishment of integrated structure that will unify all customs and tax departments of Andorra.

The governmental officials state that a new department will be responsible for effective implementation of tax and customs …

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