Corporate Obligations

At Lemon Economists we provide services to our clients (individuals or legal entities) so that they comply, among others, with the following obligations required by Andorran regulations:  

  • Have a minute book (shareholders and administrators)
  • Have a membership register
  • Have a record of effective benefits
  • Have minimum accounting and auxiliary records
  • Prepare annual accounts and deposit them electronically with the public administration
    • The annual accounts must be prepared and deposited by all entrepreneurs who are legal persons, and also those individuals who carry out an economic activity that has a turnover of more than 150,000 euros.
    • The deposit of annual accounts must be submitted electronically through the Tax Administration’s virtual office.
  • Comply with tax obligations, including:
    • Corporate Income Tax (IS): Tax rate of 10%, to be filed electronically before 31 July of the year at the end of the tax period. Additionally, subject to different tax exemptions and deductions. It is submitted electronically together with the annual accounts.
    • Personal Income Tax (IRPF): Tax rate of 10%, to be filed electronically before 30 September of the year following the end of the tax period. For income from work and economic activities, the first 24,000 euros are exempt and income between 24,000 and 40,000 euros are available for a 50% discount. On the other hand, savings income has an exemption on the first 3,000 euros. Additionally, subject to different tax exemptions and deductions. In addition, for economic activities, a simplified regime can be chosen depending on the activity and turnover of the obligated entity.
    • Non-Resident Income Tax (IRNR): Quarterly Presentation
    • General Indirect Tax (IGI): Monthly, quarterly or semi-annual presentation depending on the volume of turnover. It should be noted that obliged entities with a turnover of less than 40,000 euros will be exempt, and those obliged entities with a turnover of less than 100,000 euros may join the simplified regime. The general rate is 4.5%, although there are other rates (0%, reduced by 1%, banking services by 9.5%).
    • Social Security Contributions (CASS): The general social security scheme for employees corresponds to a contribution of 22%, of which 6.5% is withheld from the worker’s payroll, and 15.5% is assumed directly by the company. They must contribute in accordance with the contribution bases provided for by Law 11/2023 on Social Security, of 25%, 50%, 62.5%, 75%, 100%, 125% and 137.5% of the average monthly global salary of the previous year. This contribution will depend on the net income and turnover of the entrepreneur. As an example, if it is 100%, the taxation would be 22% of the overall salary (in 2024 it was 2,426.70 euros), so the contribution would be 533.87 euros.
  • Notarize certain operations and transactions (incorporation, corporate modifications, change of bylaws, purchase/sale of shares, etc.)
  • Have an Equality Plan
  • Obligations for the Prevention and Laundering of Money and Terrorist Financing
  • Audit of annual accounts: Public limited companies or limited liability companies must submit their annual accounts to the audit of a person who has the legal status of auditor, if for two consecutive years at least two of the following circumstances occur:
    • a) That the total of the assets exceeds three million six hundred thousand euros.
    • b) That the amount of the annual turnover exceeds six million euros.
    • c) That the number of workers during the year is greater than fifty.

In addition, if for two consecutive years the annual turnover of public limited companies or limited liability companies exceeds ten million euros, they must submit the annual accounts to the audit of a person who has the legal status of auditor of accounts.