Page 121 - economic report 2021

October

5 October, approval of a public debt issue for the amount of €175 million, according to the Base Prospectus
of 23 April 2021.
5 October, MoraBanc and Banc Sabadell formalise the purchase of 50.97% of the share capital of BancSabadell
d’Andorra (BSA), owned by Banc Sabadell (51.61% taking into account the proportion of treasury shares).
Through this transaction, MoraBanc becomes the majority shareholder of BSA and the entity becomes part of
the MoraBanc group.
8 October, Andorra signs a Double Taxation Agreement (DTA) with Hungary.
Approval of Law 24/2021, of 14 October, on exchange rates applied to card payment transactions.
18 October, Andorra Business and GSIC by Microsoft expand their collaboration agreement to continue working
to position Andorra internationally, as a benchmark in the start-up, innovation and digital transformation
ecosystem in the sector of mountains, winter sports and cycling.
Approval of qualified Law 29/2021, of 28 October, on personal data protection.
From 29 October to 14 November, Andorra Shopping Festival returns with the aim of strengthening Andorra’s
position as a shopping destination, after the hiatus in 2020 due to COVID-19.

November

Andorra takes part in the United Nations Climate Change Conference (COP26), held in Glasgow from 31
October to 12 November
Approval of Law 30/2021, of 11 November, on measures to protect and streamline the housing rental market,
on the essential conditions for affordable housing and on improving purchasing power.

December
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1 December, the Government approves by Decree 399/2021 a new special aid scheme for rents and mortgage
payments of authorised establishments such as pubs, discotheques, nightclubs or similar.
15 December, the Government issues Decree 420/2021, approving specific International Financial Reporting
Standards adopted by the European Union (IFRS-EU) and amends the Decree of 22 December 2016,
approving the accounting framework applicable to entities operating within the Andorran financial system and
to collective investment schemes under Andorran law, according to the IFRS-EU, which are also adopted by
Andorra (IFRS-Andorra).
Approval of Law 37/2021, of 16 December, amending Law 14/2017, of 22 June, on preventing and combatting
the laundering of money or securities and terrorism financing.
17 December, regular flights begin between Andorra-La Seu airport and Adolfo Suárez Madrid-Barajas airport.
20 December, the Government announces that the Council of Europe Development Bank (CEB) has decided
to grant a loan of €8 million towards the digital transformation of Andorra’s government and businesses. This
is the first loan granted by the European body for this purpose.
22 December, the Government approves by Decree 424/2021 a new special aid scheme for rents and
mortgage payments of authorised establishments such as pubs, discotheques, nightclubs or similar. The new
scheme increases the amount of aid towards rent to up to 100% and raises the cap on the monthly amount
granted as aid towards the rent or mortgage repayment to €3,000.
30 December, the new company SETAP365 is officially set up by combining EMAP and ENSISA. This paves
the way for marketing a single national ski pass giving access to a total of 303 km of ski pistes.
31 December, entry into force of the Double Taxation Agreement (DTA) with the Republic of San Marino. Timeline of the most significant economic developments in 2021