On 8 January 2015, officials from Andorra and Spain signed an income tax treaty. The treaty is the first of its kind between the two countries. Taxes Covered The treaty covers Andorran income tax, tax on income from economic activities, tax on income of nonresidents, real estate capital gains tax, and local income taxes. It covers Spanish individual income tax, corporation tax, non-resident income tax, and local taxes on income. Withholding Tax Rates Dividends - 5% if the beneficial owner is a company directly holding at least 10% of the paying company's capital, otherwise 15% Interest - 5% Royalties -...