List of Taxes

The rates applicable are specified in Law 10/2013,  of the Andorran Natiopnal Institute of Finance  and specifically in the following articles:

 

Article 28 - Authorization tax rate for the creation of a new operating entity in the Andorra financial system

The tax payable is determined by a fixed amount depending on the entity type.

Type of Entity

Creation Tax Rate

Banks

32.018 euros

Non-bank Specialized Credit Institutions

10.673 euros

Financial investment companies

12.807 euros

Financial investment agencies

8.538 euros

Asset management companies

6.404 euros

Financial advisers

2.134 euros

Collective Investment Schemes Management Companies

6.404 euros

Payment Institutions

6.241 euros

Electronic Money Institutions

6.241 euros

 

Article 32 - Andorran banks annual supervision tax rate

The tax payable is determined by a fixed amount that is made up of:

  • The individual supervision tax rate for each bank, that is determined based on the banks over-all balance sheet, which for year N is established based on its individual annual accounts audited at December 31st of year N-1, in accordance with the following scale:

    Total individual balance sheet

    Annual Supervision Tax Rate

    Less than or equal to €500 million

    61.894 euros

    Higher than €500 million and less than or equal to €1,000 million

    94.661 euros

    Higher than €1,000 million and less than or equal to €3,000 million

    171.638 euros

    Higher than €3,000 million

    218.449 euros

  • The supplementary supervision fee of €22,658 for all those banks subject to supervision on a consolidated basis by the AFA, if applicable;
  • The supplementary supervision fee, corresponding to supervision on a consolidated basis, for all those subsidiaries of entities that are under the supervision of a foreign bank, finance or insurance supervisory authority, in accordance with what is established below:

    Types of branches or subsidiaries

    Annual Supervision Tax Rate

    For each foreign banking subsidiary within the consolidated supervision scope

    18.724 euros

    For each supervised foreign non-bank subsidiary active within the consolidated supervision scope

    9.362 euros

    For each branch dependent on an entity operating in the system

    14.044 euros

    For each representative office dependent on an entity operating in the system

    1.561 euros

If the branch or subsidiary belongs to a jurisdiction outside the EU, the tax rate for the aforementioned annual supervision will increase by 50%.

 

Article 38 - Tax rates for the pre-authorization process and/or registration with the AFA

The tax payable is determined by a fixed amount in accordance with what is established below:

Rate concept

Pre-authorization and/or registration tax rate

Pre-authorization process

517 – 103.300 euros

Registration process

310 – 51.650 euros