Maldives ‘easiest country in which to pay tax’
16 Dec 2009, 12:35 PM
The Maldives has been crowned ‘the easiest country in which to pay tax’ for the second year running by the World Bank’s Doing Business in 2010 report, ahead of Qatar and Hong Kong.
The report measures the regulatory environment of most of the world’s economies, scoring them on factors such as the ease of starting a business, obtain construction permits, get credit and enforce contracts.
Overall the Maldives was ranked 87th out of 183 countries in the survey, a fall of 16 places on last year largely attributable to the increased difficulty of starting a new business (37th to 49th in 2010) and employ workers (6th to 41st in 2010).
Gaining credit within the country, trading across borders and closing a business continued to be major impediments to private economic development, the report indicated.
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