12th February 2016

EU and Andorra sign tax transparency deal

On 12 February, the Dutch Presidency of the Council signed in Brussels a new agreement with Andorra on automatic exchange of tax data. The agreement strengthens significantly the information-exchange framework that has existed with Andorra since 2004. The EU member states and Andorra will as of 1 January 2018 automatically share information on each other´s residents with accounts in their respective jurisdictions (names, addresses, tax identifiers, financial accounts and so forth). The deal implements measures against tax avoidance agreed within OECD and G20. EU has recently concluded similar deals with Switzerland, Liechtenstein and San Marino. A deal with Monaco is being finalized.

For more, click here and here.

Members of the American Chamber of Commerce in the Czech Republic