In his speech at Andorran Parliament the Prime Minister of the country claimed that neither wealth nor inheritance tax will be imposed. In accordance to his words, the tax reform, that is currently being executed in Andorra, will be logically concluded on January 1, 2015 when income tax (IPRF) will be imposed. “At the same time a general model of the tax system will include VAT (IGI)), corporate tax (IDS) and the implemented income tax (IPRF),– said Antoni Marti.
Marti also disproved the news about possible increases of existing tax rates in future due to the pressure from the side of OECD and EU. He claimed that governmental officials are the adherents of low tax rates.
Antoni Marti resumed that the tax reform together with the agreements on double taxation exemption signed with France and Luxemburg favored the growth of international authority and the trust to the country from the side of investors. In accordance to his words it is planned to sign analogue agreements with Spain and Portugal.