Andorra gives an extension to 5,600 entrepreneurs so they do not have to present the 2023 accounts


A total of 5,600 Andorran businessmen will be able to benefit from an extension this year so as not to have to present the 2023 annual accounts “exceptionally”.

The measure that affects operations “small self-employed” accountant“with an annual income figure of less than 150,000 euros, has been announced by the Minister of the Presidency, Economy, Labor and Housing, Conxita Marsol, according to the Government in a statement.

The novelty will be regulated in one of the final provisions of the Budget Law which is scheduled to be voted on Thursday, February 1.

Marsol explained that This “improvement” was agreed upon to respond to a widespread request.In his words, from small business owners, as well as from the College of Economists, the Association of Tax and Fiscal Advisors of Andorra and the Chamber of Commerce.

Furthermore, those entrepreneurs – natural persons – who have taken advantage of the Method for objective determination of the performance of your activity. paraca declare personal income tax and that their annual income figure is less than 150,000 euros, they are “excluded” from depositing the annual accounts as of the year beginning on January 1, 2024.

It is estimated that some 275 businessmen who pay taxes based on objective determinationThat is, 5% of the 5,600 registered companies with a turnover of less than 150,000 euros per year will never have to deposit the accounts.

accounting law

The Government reminds us that the Accounting Law of 2007 is common had excluded entrepreneurs with a minimum turnover from submitting the declaration.

In December 2021, with the modification of the Law on the Prevention and Fight against Money Laundering or Securities and the Financing of Terrorism, “the obligation for all entrepreneurs” to deposit accounts was established.

Still, the Law on measures to Improve the Purchasing Power of Citizens reestablished an “extension” in the obligation to deposit accounts for small business owners with annual income of less than 150,000 euros, a circumstance that has been lengthening in subsequent years.

In any case and although exemptions exist, businessmen are “obliged” to keep the accounting of their businesses.

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