The Government of Andorra approved a bill on the exchange of tax information on prior request, reported the Minister of finance Jordi Cinca. The new bill fully meets the requirements of OECD.
Jordi Cinka explained that earlier Andorra had signed a number of international agreements that required changes in the principality’s obligations regarding the exchange of tax information. In particular, in November 2013, the Convention on Mutual Administrative Assistance in Tax Matters (Multilateral Agreement) was signed. In February 2016 Andorra also signed an agreement with the European Union on the automatic exchange of information on financial accounts of taxpayers. The agreement came into force in January 2017.