Andorra: Difference between revisions
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In 2000 the [[OECD|Organisation for Economic Co-operation and Development]] issued a report which identified, among others, Andorra as a [[tax haven]]. By April 2002, 31 of the countries identified by the report had committed themselves to OECD "standards of transparency and exchange of information", leaving Andorra and six others listed as "uncooperative tax havens". | In 2000 the [[OECD|Organisation for Economic Co-operation and Development]] issued a report which identified, among others, Andorra as a [[tax haven]]. By April 2002, 31 of the countries identified by the report had committed themselves to OECD "standards of transparency and exchange of information", leaving Andorra and six others listed as "uncooperative tax havens". | ||
Between 2003 and 2007 [[Nauru]], [[Vanuatu]], [[Liberia]] and the [[Marshall Islands]] all made commitments to adhere to OECD transparency standards and were removed from the list. In May 2009, following similar commitments made by Andorra, [[Leichtenstein]] and [[Monaco]], all three were removed from the OECD list, nullifying their tax haven status. | Between 2003 and 2007 [[Nauru]], [[Vanuatu]], [[Liberia]] and the [[Marshall Islands]] all made commitments to adhere to OECD transparency standards and were removed from the list. In May 2009, following similar commitments made by Andorra, [[Leichtenstein]] and [[Monaco]], all three were removed from the OECD list, nullifying their tax haven status.<ref>[http://www.oecd.org/document/57/0,3343,en_2649_33745_30578809_1_1_1_1,00.html OECD], List of Unco-operative Tax Havens</ref> | ||
==References== | |||
{{reflist|2}} | |||
Revision as of 01:51, 5 May 2011
Andorra (Catalan: Andorra), officially the Principality of Andorra (Catalan: Principat d'Andorra), is a small landlocked country in western Europe, located in the eastern Pyrenees mountains and bordered by Spain and France. Formed in 1278 as a co-principality, Andorra has as joint heads of state the President of France and the Bishop of Urgel in Spain.
The capital city is Andorra la Vella.
Tax haven status
In 2000 the Organisation for Economic Co-operation and Development issued a report which identified, among others, Andorra as a tax haven. By April 2002, 31 of the countries identified by the report had committed themselves to OECD "standards of transparency and exchange of information", leaving Andorra and six others listed as "uncooperative tax havens".
Between 2003 and 2007 Nauru, Vanuatu, Liberia and the Marshall Islands all made commitments to adhere to OECD transparency standards and were removed from the list. In May 2009, following similar commitments made by Andorra, Leichtenstein and Monaco, all three were removed from the OECD list, nullifying their tax haven status.[1]