Andorran main taxes for natural persons - PSF Consultoría empresarial

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Andorran main taxes for natural persons

In Andorra there are small taxes, but you should know them, so in this section we make a brief summary of those.

What is Income Tax of Individuals (income tax)?
It is a direct tax levied universal income of individuals, who receive as tax resident in Andorran territory, obtained by work, economic activities, income from movable capital, property and capital gains and losses.

The general tax rate is 10% but is very unusual to even have to pay it (there are lots of exceptions, yo only have to pay 10% for 150000€ or more of anual income)

What is Income Tax Non Residents Tax (IRNR)?
The income tax of non-resident tax is a direct tax that records the income obtained in the Principality of Andorra tax by non-resident individuals or legal entities. Taxation vary depending on whether or not you permanent establishment. So if you have a permanent establishment are taxed on all income attributable, regardless of where they have obtained and if not available permanent establishment, the taxpayer will be taxed individually and separately for each of the income They are obtained.

The tax rate is 10%, with some exceptions.

What is General Indirect Tax (IGI)?
It is a tribute that records consumption through taxation of supplies of goods and services supplied by entrepreneurs or professionals and imports of goods. It is equivalent to the European VAT.

The general tax rate is 4.5%, also having a special rate of 2.5%, 1% reduced and one super reduced rate of 0%. There is also an increased rate of 9.5% applicable to the provision of banking and financial services.

What is Transfer Tax (ITP)?
It is a tribute that records the second transfers of real estate with a tax rate of 4%. However, the first real estate transfers or just the same transmissions operated by companies or professionals, the IGI apply 4.5%.



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About the Author

I finished the degree in Development of Computer Applications in Alcañiz and later I entered the financial market first as a systems programmer and then as a trader. During those years I finished my DBA Degree in the UNIR and later I obtained a master in Banking, Financial Markets and Patrimonial Management by the EAE. I also took a course in Financial Adviser from the UPV.

I have done consulting for various clients in both strategic and fiscal matters. I tend to offer integral solutions and now I take care of the administration of PSF. When there is an issue that requires knowledge of markets or investment, I also assume that competition.
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