World Business News

A round up of the latest news for those doing business internationally

Andorra’s Marti rules out taxes on wealth and inheritances

Zone(s): Andorra ¦ Sector(s): Taxation

[24 June 2014,] By Ulrika Lomas,, Brussels: Andorran Prime Minister Antoni Marti has made clear that the Government has no plans to introduce a tax on wealth or inheritances. During a speech to parliament on Government policy, Marti said the nation’s tax system would be complete once the ten percent rate of individual income tax (IRPF) enters into force on January 1, 2015. He said the territory’s new tax model, with a VAT-like general indirect tax (IGI), corporation tax, non-resident income tax, and imminent IRPF, already taxes all forms of wealth from a wide base and at moderate rates.