The end of a tax haven

As the governments of the European Union intensify the fight against tax fraud, the Lilliputian state of Andorra, in the Pyrenees, is carrying out major reforms to ditch its dubious reputation as a former tax and banking haven. By regulating an income tax and other taxes for the first time, it hopes to embrace a new life as a country of low taxation that could better fit in the new Europe of transparency. As the eurozone member states have become increasingly worried about their shrinking public spending budgets and uncertain economic outlook, an urgency to tackle the problems created by tax evasion and secret banking has emerged. We travelled to Andorra to find out what kind of a revolution the country and its 80 000 inhabitants are going through. For Helsingin Sanomat in 2013. To read the story in Finnish, continue HERE.