The Government of Andorra intends to issue bonds for 70 mln euro

The Government of Andorra intends to issue the bonds for 70 mln euro. The maturity term is 18 months (till 15th April, 2016). The Minister for Finances of Andorra (Pyrenees) Jordi Cinca claimed that “the bond yield will make 1.5%”.

The formalization of applications will be implemented via Andorran banks in the period from October 1 till October 13 of 2014. The auction will take place on 15th October 15 of the current year. As far as the emission of bonds was implemented before a new law on income tax came into force (it will come into effect on January 2015) the obtained income won’t be taxed (IPRF).

Jordi Cinca also confirmed the necessity to diversify  the sources of Governmental financing. Alongside with that the total amount of loans shouldn’t exceed 914 mln euro—the financial limit, settled by the Ministry for Finances of Andorra.

See also Andorra company formation

See also Taxes in Europe

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See also Taxes in Andorra VS Taxes in Spain

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