The Council of the European Union yesterday made public the list of non- cooperating jurisdictions in fiscal matters, in which Andorra does not appear. Among the 92 jurisdictions analyzed, our country is considered to be cooperating by the European authorities, which recognize the progress we have all made together since the signing of the Paris Declaration.

In fact, in 2009 the principality undertook to advance towards the exchange of tax information on demand, and in a matter of months demonstrated that it complied with the requirements for the signing of various exchange agreements.

Since then, all actions have gone in the same direction. We have put in place a standardizable tax model that has enabled us to sign agreements to avoid double taxation. We have been overcoming the various evaluations of the OECD Global Tax Forum and we have worked intensively at a bilateral level, because the other countries that make up the international community consider us as what we are: a cooperating country in economic and fiscal matters.

The European Ministers of Economy and Finance meeting yesterday in Brussels, gathered in their commitment document of Andorra to eliminate some special regimes of its tax system that the European Union considers harmful. It´s important that Andorra doesn´t appear in the section dedicated to those countries that have to make efforts and reforms towards greater transparency and fiscal cooperation, nor among those jurisdictions that have not yet joined the program against the erosion of tax bases.

In view of these facts, we believe that a satisfactory assessment should be made of the document published by the Council of the European Union. Because Andorra is not among the non-cooperating countries, because our efforts for transparency have been recognised.