Andorra proposes income taxes
Andorra proposing personal income taxes, amid European push against tax havens
PARIS (AP) -- The leader of Andorra's government says his tiny mountain nation is ready to impose personal income tax for the first time, amid efforts by European powers to crack down on tax havens.
Antoni Marti met Friday in Paris with Francois Hollande, who as the president of France is also co-prince of the country squeezed in a Pyrenees valley between France and Spain.
Hollande's office issued a statement saying that Marti pledged to present a bill to parliament by June 30 that would create personal income taxes, as part of efforts by Andorra "to progressively put its tax system in line with international standards."
The move comes as the European Commission and big European countries are pushing small states considered tax havens to share banking information.
