According to the initiative of the Minister of Finance of the Principality Jordi Cinca, the Council of Ministers of Andorra decided to introduce a new tax regime for business restructuring operations.
The corresponding decision implies changes in the Regulations on income tax and capital gains tax, as well as in the Regulation on the transfer of real estate assets.
Amendments will be made to the Law on Income Tax, the Law on Personal Income Tax, the Law on the Basis of the Tax System, the Law on Joint Stock Companies and Limited Liability Companies and the Law on the Capital Gains Tax on Transfer assets in the property. ”
The minister explained that since the entry into force of the law on taxation of operations on the reorganization of enterprises, there was a need to resolve the issue of properly informing legals and individuals who are involved in the activities of a company for restructuring. The decision of the Council of Ministers provides for the introduction of deadlines and requirements for the disclosure of relevant information.