List of Taxes
The rates applicable are specified in Law 10/2013, of 23 May, of the Andorran National Institute of Finance and specifically in the following chapter:
Chapter five - Taxes for the provision of services in the field of supervision of insurance and reinsurance
Tax concept |
Tax rate |
Supervision of the insurance activity of resident insurers and reinsurers or delegations of non-resident entities |
Variable tax rate, which is the result of applying a rate of 0,9883 per thousand on the base tax rate, which in turn consists of gross premiums issued by the taxpayer |
Authorization of commencement of activities of an insurance or reinsurance entity resident in Andorra |
11.141 euros |
Authorization for the establishment of a non-resident delegation of an insurance or reinsurance entity in the Principality of Andorra |
11.141 euros |
Authorization or modification of internal guides |
2.228 euros |
Outsourcing or concentration of functions |
334 euros |
Portfolio transfer |
1.672 euros |
Structural modifications |
1.672 euros |
Adjustments for the calculation of technical provisions |
668 euros |
Authorization for the reimbursement of equity elements |
1.672 euros |
Extension or removal of insurance or reinsurance entity activity |
5.570 euros |
Changes and appointments in senior management |
334 euros |
Changes in shareholder participation |
668 euros |
Changes in the appointment of external auditors |
334 euros |
Issue of certificates |
223 euros |
Exemption from the publication of an annual report |
334 euros |
Establishment of control functions within the group |
668 euros |
Application for the declaration of equivalence |
1.672 euros |
Application for authorization to implement the simplified scheme |
1.114 euros |
Application for authorization to initiate the procedure for the dissolution and liquidation of insurance and reinsurance entities |
3.343 euros |
Registration in the Mediation Registry |
558 euros |
Tax for the request for authorisation for the application of the simplified supervision regime for delegations in the Principality of Andorra of foreign insurers that meet certain requirements referred to in the Regulation, of 8 May 2019, of development of Law 12/2017 of 22 June, on the organisation and supervision of insurance and reinsurance in the Principality of Andorra. |
1.114 euros |
Tax for supplementary supervisory for all insurers or reinsurers subject to consolidated supervision by the AFA |
5.532 euros |
Tax for supplementary supervisory corresponding to the supervision on a consolidated basis for all subsidiaries of insurers and reinsurers being under the supervision of a foreign banking, financial or insurance supervisory authority, in accordance with the following provisions:
|
3.873 euros
3.319 euros |