Andorra and the European Union signed the agreement on automatic exchange of tax information.

The agreement on automatic exchange of tax information provides that Andorra will share, from year 2018 and based on 2017 data, the information with EU Member States in relation to financial assets and the balance of the accounts of European residents in the Principality of Andorra as well as living in the European Union, with the aim of preventing tax evasion.

The accounts prior to 2017 with less than $ 250,000 will not have to be declared.

The agreement with the EU on automatic exchange of information regarding tax data has also been signed by Switzerland on 27 May 2015, on 28 October 2015 with Liechtenstein on 8 December 2015 with San Marino. In the case of Liechtenstein and San Marino are early adopters, so that such exchange will occur from 2017, and in the case of Monaco, Andorra and Switzerland will be from 2018.