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Andorra Releases Binding Consultation Explaining Deduction for New Investments in Fixed Assets

Nov. 22, 2021, 5:00 AM

The Andorran Government Sept. 10 issued Binding Consultation No. CV0215-2021, explaining the deduction for new investments in fixed assets. A fuel service company made investments in new installations and construction in a service station building, and sought clarification as to deductions available for these investments. The consultation clarified that: 1) a 5 percent deduction is available for the amount of new investments made in fixed assets related to business activity; 2) the assets must be maintained for a minimum of five years from the time of acquisition; and 3) the company must comply with reporting requirements under the law. [Andorra, ...

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