- January 22, 2024
- Posted by: andorrasolutions
- Category: Double tax treaty
On January 10, 2024, the delegations of Andorra and Montenegro conclude the DTA negotiations, Agreement to eliminate double taxation between the two countries, related to income and capital taxation, and the prevention of tax evasion and avoidance.
In just two days, the Andorran and Montenegrin delegations, meeting on 9 and 10 January in Andorra la Vella, conducted the rounds of negotiations. The Secretary of State for International Financial Affairs of the Ministry of Finance of Andorra, Noelia Souque, participated in the meetings together with the Director General of the Tax and Customs Regime of the Ministry of Finance of Montenegro, Biljana Peranovic.
In a single round, Andorra and Montenegro conclude the DTA negotiations on 10 January 2024, with the initialling of the agreed text.
The next step for the DTA consists of the internal procedures in each country, which will allow the text to be signed and then ratified by both countries.
With this DTA, Andorra now has a total of 16 signed conventions for the elimination of double taxation and the prevention of tax evasion and avoidance. The countries are the following: Spain, France, Portugal, United Arab Emirates, Luxembourg, Liechtenstein, Malta, Cyprus, Hungary, San Marino, Czech Republic, Croatia, Monaco, Iceland, Netherlands and South Korea. In addition to the DTA with Montenegro, Andorra has initialled and pending signature agreements with Belgium, Lithuania.
About Montenegro
Montenegro belongs to the Balkan peninsula. In 2002, the Confederation of Serbia and Montenegro was established. After a plebiscite on 21 May 2006, Montenegro proclaimed its independence on 3 June 2006. It has been the 192nd member of the UN since 28 June 2006. Its official currency is the euro and its official language is Montenegrin, although it co-exists with Serbian, Bosnian, Albanian and Croatian. In 2010, the European Council granted official candidate status for European Union membership.