Global Forum on Transparency and Exchange of Information for Tax Purposes: Andorra 2019 (Second Round)
Peer Review Report on the Exchange of Information on Request
In series:Global Forum on Transparency and Exchange of Information for Tax Purposes: Peer Reviewsview more titles
Published on November 12, 2019
Summary of the report:
The Global Forum has rated Andorra overall Largely Compliant with the international standard of transparency and exchange of information on request. Andorra, which received a Partially Compliant rating in its 2014 report, has made significant improvements to its legal framework and its practice to respond to the recommendations previously made. The report determines that the legal framework in Andorra generally ensures the availability of relevant information, including on the beneficial owners of entities and legal arrangements, and provides the appropriate powers to the competent authority to access the information. Nevertheless, certain areas for improvement were identified, including on the notable number of inactive companies that remain on the Commercial Register. Andorra received 198 requests during the period under review (1 April 2015 – 31 March 2018). The report notes that while Andorra has improved the timeliness of its replies and its communication with its exchange partners, it has not always answered in a timely manner or effectively communicated with them, especially in relation to the length of the appeal procedures, and it therefore encourages Andorra to continue to improve its practice in these areas.