The Government has informed that with the start of the new year 2022 and from January 1st the agreement between the Government of the Principality of Andorra and the Government of the Republic of San Marino has entered into effect, thus avoiding double imposition and preventing tax evasion and fraud (CDI) in terms of revenue tax. Prior to this, on December 31st, Andorra notified their Sammarinese counterparts the compliance with procedures established in their internal legislation necessary for the entrance into effect, through the deposit of ratification of said agreement.

The CDI with San Marino, signed by the Minister of Finance and Government Spokesperson, Eric Jover, in San Marino on May 24th, during the official visit by the head of Government Xavier Espot, aims to enhance commercial relations between the two micro-states. Relations which have been strengthened over the last few years, especially within the framework of negotiations with the EU to reach an Association Agreement, as both countries are negotiating together, along with Monaco.

Furthermore, during the visit in May, both countries also signed an agreement of Friendship and Cooperation whose goal is to reinforce ties in fields such as tourism, innovation and education among others, and to establish a protocol in Health aspects enhancing cooperation in situations such as the current health crisis.

With the entrance into effect of this CDI, Andorra already has a network of 9 signed CDIs with Spain, France, Luxemburg, Liechtenstein, Portugal, the U.A.E, Malta and Cyprus. The agreement with the Czech Republic is pending signature. The CDI with Hungary is awaiting ratification by Hungarian authorities.

Text and photo: Govern d’Andorra

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Andorra Business
Author: Andorra Business

Andorra Business és l’agència de promoció i desenvolupament econòmic d’Andorra. Impulsar sectors clau per a la diversificació de l’economia, captar i acompanyar la inversió estrangera i local, donar suport a les empreses andorranes per ser més competitives, i facilitar l’aterratge al país de noves empreses, són algunes de les nostres prioritats.