The EU is confident that an automatic exchange of information pact will soon be finalized with Andor
Andorra la Vella - Source "Diari d'Andorra"
The European Union is confident that before the end of the year, Andorra (as well as Switzerland, San Marino, Liechtenstein and Monaco) will accept the automatic exchang of fiscal information agreement. EU member states have agreed the automatic exchange of informatio will be in force within the whole territory as of 2017, with the exception of Austria wich will be in 2018.
Source OECD.org website - Please refer to the following document for an indepth explanation:
http://www.oecd.org/mcm/MCM-2014-Declaration-Tax.pdf
Relevant quote from the link above: "MINDFUL that as the world becomes increasingly globalised it is becoming easier for all taxpayers to make, hold and manage investments through financial institutions outside of their country of residence, and that investments that are kept offshore by taxpayers may go untaxed to the extent that taxpayers fail to comply with their tax obligations to the detriment of those who pay their taxes"
