US sixty-ninth in ease of paying tax list
Friday 11 November 2011 - by Will Henley
Hong Kong, Singapore and Ireland are among the least burdensome international financial centres for paying taxes according to a new survey by PWC, the World Bank and International Finance Corporation.
Comparatively, Switzerland was ranked at number 16 with a total tax rate of 30.1 per cent. The US total tax rate is lodged at 46.7 per cent, while Germany's is 46.7 per cent, but France's rate is at a staggering 65.7 per cent.
The 'Paying Taxes 2012' survey looks at both the administrative challenges as well as total taxes and mandatory contributions which a medium-sized company must pay in the given country.
It shows that, over the seven years the survey has been running, some 60 per cent of worldwide economies have taken steps to make it easier to pay taxes through a total of 244 reforms. The total tax rate has fallen by 8.5 per cent since 2006 - equivalent to 1 per cent every year.
The time to comply with taxes has meanwhile declined over that time by over a day per year - 54 hours.
|Login||Register||Most read||Most commented|
Will markets in 2012 have a tougher time than 2011?