| tax 2004-06-01 |
| ANDORRA’S prime minister, Marc Forne, said the principality rejects the European Union tax accord, which threatens to eliminate its tax haven status, but will study any compromise the EU reaches with Switzerland.
Andorra, which falls outside the jurisdiction of the EU, is one of four small tax havens the EU wants to clamp down on. The others are Liechtenstein, Monaco and San Marino, none of which is expected to accept the EU directive in its current form. EU officials say brokering a deal with non-EU member Switzerland is key to bringing the four territories on board. "If Switzerland finds an adequate compromise, above all in the matter of exchanging information, we will study it and decide whether it could be valid for Andorra," Forne said. |