Montserrat Caballé, Former Star Soprano, Is Fined in Tax Case
Montserrat Caballé, a longtime opera star, was ordered to pay a fine of 254,000 euros for avoiding taxes.
A Labor of Design for Sale in the Pyrenees
Clean lines and minimalism so characterize a modernist villa in the Andorran Pyrenees that it even meant forgoing some of the interior door handles.
Banking Family Plans to File Suit Against Andorra
The Cierco family is seeking to be compensated for the loss of its banking assets after the United States Treasury Department identified the principality as a likely laundering hub.
Andorra Cracks Down on Bank After U.S. Accusations of Money Laundering
Criminal investigators for the Treasury accused Banca Privada d’Andorra of laundering money for gangs, and now the Pyrenees principality is acting.
Banco de Madrid Files for Bankruptcy Protection
The filing was aimed at stopping a flight of deposits from the bank, whose parent company in Andorra was accused by the U.S. of money laundering.
Andorra Draws Home Buyers Despite Tax Law
Real estate agents feared that new taxes taking effect in 2016 would compound the property slump in the country, but there has been no evidence of such effects.
Tourism Industry in Southern Europe Benefits From Unrest
Turmoil in the Arab world has led tourists to change travel plans, aiding the hard-hit economies of Greece, Spain and Portugal.
Deadlock on Taxes and Budgets Is Leading to Early Elections in Andorra
Center-left government of tiny principality plans elections after failing to win Parliament's support for a value-added tax.
A New Path for Andorra
As tourism declines and Andorra’s appeal as a duty-free shopping paradise fades, the country’s leaders are seeking new sources of revenue.
Adding Taxes, Shedding Secrecy
Andorra has relied on banking secrecy, tourism and duty-free trade. But lately, those engines of growth have begun to backfire, forcing the small European country to find new sources of revenue.