Increasing Business Income and Employment: The Andorran Minister of Finance, Mr Jordi Cinca, has announced that Andorran businesses continue to maintain their record of growth. With the final corporate business tax declarations received for the year 2016, corporate net income has increased to almost €600 million with the number of corporate tax declarations increasing by almost 10%.
The increase continues to demonstrate the strength of the Andorran economy across all sectors which is also reflected in the decline in the unemployment figures recently released by the government. In 2017 the unemployment rate was the lowest for eight years at 2.4%of the working population actively seeking employment.
SEPA: The Andorran Council of Ministers has approved the country joining the European Single Euro Payment Area (SEPA). It is now possible for businesses and consumers to make and receive cashless electronic euro payments across the European Union. The transfers include cross border electronic transfers by direct debit, card payments and credit transfers.
It is expected to facilitate the further development of the Andorran economy and further its integration into Europe while increasing Andorra as a business friendly destination for business and company start-ups.
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