In addition to tax rates , another factor of importance to companies is the amount of time and effort spent on tax compliance and reporting. According to the latest PWC ranking, the product of a study ran in partnership with the World Bank and the International Finance Corporation, the United Arab Emirates has the world’s simplest corporate tax regime while Venezuela has the most burdensome.
Data is from PWC Paying Taxes Report 2013
Ease of Paying Taxes Around the World, 2013
Green - Rank: 1 - 30
Light green - Rank: 31 -70
Yellow - Rank: 71 - 100
Light Orange - Rank: 101 - 130
Dark orange - Rank: 131 - 150
Red - Rank : 151 - 185
Paying Taxes 2013 is the eighth annual edition of a study by PWC, the World Bank and the IFC comparing tax systems in 185 economies around the world. It aims to rate the word's tax systems from the point of view of a standardized business, based on a set of indicators ranging from the total tax rate, to the time to comply to the number of payments. The study covers the full range of taxes paid by the company, not only the corporate income tax.
In 2013, the United Arab Emirates tops the list, followed by Qatar, Saudi Arabia, Hong Kong and Singapore. Ireland comes in at position number 6 and is the highest-ranked country in Europe. In North America, Canada has the simplest regime for corporate tax compliance-ranked 8 worldwide. The United States is in position 69 and Mexico is 107th.
Chile is first in Latin America-at number 36-while Belize comes in at 45. Brazil is only 156th. In Asia-Pacific, Australia is in the middle of the ranking at 48, and China is marked as having a relatively complex tax regime-coming in at 122.
The most difficult countries to manage tax payments-those countries that came at the bottom of the ranking- include the Congo, the Central African Republic, Chad and Venezuela.