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Paying taxes 2012 - A Blog from Freemont Group

Freemont Group
30 November, 2011

This month PWC published its annual report about the ease of paying taxes. The study compares the total percentage, the number and the ease of taxes among countries worldwide for a medium sized business.

Key findings of global developments appear to be promising. The average tax rate worldwide has fallen by approximately 1,4% per year since 2006, and improvements to facilitate paying taxes have been made in 60% of countries in the same period. Perhaps the increase of government in the developed world has been offset by a decrease in growth of government elsewhere. And indeed sorted by total tax rate the first western country on the list is Luxembourg on number 19, below countries such as Namibia, the UAE or Georgia.

But even when it comes to the ease of paying taxes, it is surprising to see a country like Kazakhstan outperform The Netherlands. Whereas the Dutch have to deal with 29 different tax payments, the average Borat only has to make 11. If it wasn’t for other factors influencing business, it would only be a matter of years before all businesses would relocate to such obscure places as East Timor, Vanuatu or the Maldives. Taken into account these other factors, the clear winners of this study are once again the tax havens:  UAE, Singapore, Luxembourg, Cyprus, Hong Kong.


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Freemont Group

Freemont Group is a comprehensive provider of fiduciary services, including corporate formation and administration, trust, fund formation, legal-and tax services. Contact: info@freemontgroup.com

 

 

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