Andorra's Ruling Party Loses Majority
Sumaira FH 1 month ago Mon 08th April 2019 | 10:05 AM
Andorra la Vella, Andorra, April 8 (UrduPoint / Pakistan Point News - 8th Apr, 2019 ) :Andorra's ruling party lost its majority in a general election Sunday and must seek out a coalition partner after eight years in power in the tiny Pyrenees principality.
An alliance between socialists and liberals, which had hoped to seize power, were only able to win four seats.
The second largest party, the Social Democrats, took five seats.
The finance sector has also faced a shake-up, with Andorra attempting to overhaul its reputation as a tax haven by criminalising tax evasion and moving towards full banking transparency.
Once almost entirely tax-free, the winter tourist spot now imposes a 10 percent income tax on both individuals and companies, as well as sales taxes of up to 4.5 percent.
Marti is expected to be replaced by the party's former interior minister Xavier Espot.