Today's article is aimed at those liberal professions who work in Andorra. Most likely if you are reading this post is because you meet these requirements and you are looking for information on what you should do at the accounting level so that your business is up to date and complies with the regulations in force in the principality. Well, here are some key points to keep in mind:
- The professionals are not required to submit annual accounts if the turnover is less than 150,000 euros. For this it is necessary to make an affidavit on the matter and present it to the administration.
- Obligation to keep accounts. Although it is not necessary to present the accounts, as we have said before, it is essential to keep up with the numbers of our business.
- There is an obligation to present the IRPF, whether it is positive or negative. This tax, of recent implementation, has come to replace the Tax of Economic Activities that you had to present formerly.
- As far as IGI is concerned, liberal professions are exempt from presenting it for the first 40,000 euros in turnover. If the figure is higher, then there is a filing obligation.
- Obligation to make the census declaration of the business that includes: NRT, registered office and bank details.
But like in any other country, in many cases, this type of worker does not have the time or the necessary knowledge to realize the accounting. The problem comes when this task is delayed and we have no data available to assess what the situation of our business. Our advice is that if this is your case, it is preferable to outsource this service to other professionals and thus rest assured that they will comply with current legal requirements and tax deadlines or other necessary paperwork.