List of Taxes

The rates applicable are specified in Law 10/2013, May 23rd of the Andorran Financial Authority 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 0,95 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

10.000 euros

Authorization for the establishment of a non-resident delegation of an insurance or reinsurance entity in the Principality of Andorra

10.000 euros

Authorization or modification of internal guides

2.000 euros

Outsourcing or concentration of functions

300 euros

Portfolio transfer

1.500 euros

Structural modifications

1.500 euros

Adjustments for the calculation of technical provisions

600 euros

Authorization for the reimbursement of equity elements

1.500 euros

Extension or removal of insurance or reinsurance entity activity

5.000 euros

Changes and appointments in senior management

300 euros

Changes in shareholder participation

600 euros

Changes in the appointment of external auditors

300 euros

Issue of certificates

200 euros

Exemption from the publication of an annual report

300 euros

Establishment of control functions within the group

600 euros

Application for the declaration of equivalence

1.500 euros

Application for authorization to implement the simplified scheme

1.000 euros

Application for authorization to initiate the procedure for the dissolution and liquidation of insurance and reinsurance entities

3.000 euros

Registration in the Mediation Registry

500 euros