The double taxation agreement signed between Andorra and the Portuguese Republic will enter into force on April 23rd. This will be the fifth agreement to avoid double taxation and prevent tax evasion and fraud, along with the ones signed with Spain, France, Luxembourg and Liechtenstein.
The governments of the Principality of Andorra and the Portuguese Republic reported the completion of their legislative procedures for the entry into force of the Treaty. The text’s entry into force takes effect within thirty days from the date of receipt of the last written notification, through diplomatic channels, of the internal procedures’ completion in each country. The official report from the Portuguese Foreign Ministry informing about the necessary internal legal requirements completion for entry into force was March 24th, the same day the Andorran Ambassador to Portugal, Jaume Serra, delivered the document of ratification of the CDI, signed by the Andorran Coprince.
The agreement to avoid double taxation between Portugal and Andorra was signed on July 27th, 2015, between the Andorran Minister of Foreign Affairs, Gilbert Saboya, and his Portuguese counterpart Rui Machete. The Consell General then approved the Treaty’s ratification on November 30th, 2016. The Portuguese Parliamentary Assembly proceeded to do so on December 22nd, 2016. The Portuguese President’s ratification decree was published in the Republic’s Official newspaper. The ratification was made public in Andorra on December 22nd, 2016, in the BOPA (Official newspaper).
CDIs are key to promote the Andorran economy’s diversification, to attract foreign investment and to internationalize Andorran companies, while representing a tax reform guarantee.
