LONDON, UNITED KINGDOM--() November 21, 2012 -- A new report from the World Bank, IFC, and PwC finds that governments continue to reform their tax systems despite global economic uncertainty, with 31 economies having taken steps from June last year through May 2012 to make it easier and cost less for small and medium businesses to pay taxes.
Released today, the Paying Taxes 2013 study looks at tax regimes in 185 economies and finds that the most common tax reform is the introduction or improvement of online systems for tax compliance, which occurred in 16 economies.
“Electronic filing and payment reduces paperwork and complexity in tax systems and can help increase tax compliance and reduce the cost of tax administration,” said Augusto Lopez Claros, Director, Global Indicators and Analysis, World Bank Group. “The report finds that over the last several years there has been a gradual reduction in the number of payments and in the number of hours spent by a medium-sized company to comply with its tax obligations. This reduction across all regions of the world in the burden of tax administration is a welcome development.”
The report finds that on average a medium company pays a Total Tax Rate of 44.7 percent of profits, making 27.2 payments, and spending 267 hours to comply with its tax requirements. In the eight years since the study began, the time to comply has fallen by 54 hours, almost seven working days, and the number of payments has declined by more than six, while the Total Tax Rate has fallen nearly 1 percent for each year.
“We are seeing tension between the need for governments to raise tax revenue and at the same time provide a system that encourages economic activity and growth,” said Andrew Packman, a tax partner at PwC UK. “Governments seeking to create a more business-friendly tax climate need to focus not only on rates, but also on minimising the time and effort needed to comply.”
An economic analysis undertaken by PwC senior economic adviser Andrew Sentence and featured in the report shows that in economies where action was taken to reduce complexity in tax administration - both in terms of the number of payments and the time taken to deal with tax matters - there has tended to be higher economic growth.
Reforms continue around the world. However, the report finds that the number of economies reforming has fallen from 35 last year to 31 in the most recent study. The focus continues to be on reducing the administrative burden of the tax system. In 2011, the time to comply fell by an 8-hour day and the number of payments dropped by almost two, while the Total Tax Rate fell by only 0.3 percent.
Paying Taxes 2013 measures all mandatory taxes and contributions that a medium-sized firm must pay in a given year. Taxes and contributions measured include the profit or corporate income tax, social contributions and labour taxes paid by the employer, property taxes, property transfer taxes, dividend tax, capital gains tax, financial transactions tax, waste collection taxes, vehicle and road taxes, and other small taxes or fees.
About the World Bank Group
The World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries. It comprises five closely associated institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). Each institution plays a distinct role in the mission to fight poverty and improve living standards for people in the developing world. For more information, please visit , , and
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For more information about the Paying Taxes study, visitKorea Newswire distributes your news across every media channels through the industry’s largest press release distribution network
HOLLYWOOD, CALIFORNIA --() September 10, 2013 -- bj안나 HOLLYWOOD,bj안나 HOLLYWOOD,Robert 업비트API 파워사다리게임 bj쏘 파워사다리게임 Friedland, producer John Penotti and Beijing-based media 알파TV HOLLYWOOD,Ray 업비트API 동행복권파워볼 Chen have launched Ivanhoe Pictures, a motion picture and bj쏘 파워볼분석기프로그램 television financing and production bj쏘 company.
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Ivanhoe Pictures will be bj쏘 일반 based in Hollywood, California, with offices in Beijing and New York. Mr. Friedland 업비트API 파워키노사다리분석 is Chairman of the new company, Mr. bj쏘 키노사다리ㅏ Penotti is Chief Executive 19몽키 Ivanhoeand President and Mr. bj쏘 로또당첨번호조회 Chen 업비트API 토렌트홀 is Executive Vice OKBOY Ivanhoe
Mr. Friedland is 업비트API 로또당첨지역 recognized in the business worlds of finance, 코끼리TV Mr.capital and mineral resources. Through his principal interests, held through Ivanhoe Capital Corporation, Mr. Friedland has participated in financing a broad bj쏘 로또1등 range of initiatives in more than 라이브무비 Mr.countries during the past 25 years. He was an initial, key investor in Sina.com, the largest Chinese-language online infotainment web portal. Ivanhoe provided the founding venture capital for U.S.-based Sirius Satellite Radio, which went on to build SiriusXM into 업비트API 로또당첨되는법 the world's most successful digital satellite 업비트API 로또확률 radio service.
Mr. Friedland remarked, “My long-held love of film and storytelling bj쏘 로또당첨지역2등 is a natural complement to the vision shared 업비트API 로또추첨시간 by John Penotti and Ray Chen. 라이브무비 Mr.the depths of their professional experience and guidance, Ivanhoe Pictures will be at the forefront of a thriving international film production and distribution marketplace. We will leverage Ivanhoe Capital's resources in 업비트API 로또무료번호 support of this exciting, new creative endeavour.”
After two decades as the President and co-founder of 토렝이 AfterYork-based GreeneStreet Films, John Penotti will transition to the new company with his relocation to Los Angeles. At GreeneStreet, bj쏘 Mr. Penotti bj쏘 캣알바 produced more 스포츠중계바셀TV After30 films, including the Oscar-nominated 스즈키코하루 AfterIN THE BEDROOM, Robert Altman's A PRAIRIE HOME COMPANION, UPTOWN GIRLS, ONCE IN A LIFETIME, SWIMFAN and ROMANCE & CIGARETTES. 업비트API
“I could not be more thrilled that this new venture has 스즈키코하루 “Itogether. Robert's enthusiasm and support will 업비트API 바로보아TV allow us to quickly establish a bj쏘 대구세진전자통신 unique and robust development and production slate,” said Mr. Penotti. bj쏘
“This is a tremendous opportunity to bj쏘 누리토렌트 find and nurture the best talent and projects worldwide. Together 업비트API 파워볼싸이트 with Ray's extensive experience 업비트API 먹튀커머스 키노사다리조작 “Thislong-standing relationships within Greater Asia, and our infrastructure globally, we 업비트API 뭐니로또조합기 엔조이씨석류판매사이트 “Thiselated to offer Ivanhoe Pictures as a new finance and production destination.”
Ray Chen, Beijing born, 업비트API 로또맞추는방법 previously served as founder and Chairman of Beijing Premiere Media bj쏘 Company, a bj쏘 reality 맨즈티비 Rayand international 우아영 Raycompany based in China. Prior to that, 업비트API 복권확인 he was a television producer for China 업비트API 밤토끼TV Central Television (CCTV).
“It's a wonderful time to launch 헬븐넷 “It'sPictures,” said Mr. Chen. “In Asia, the film industry continues to grow exponentially and presents compelling bj쏘 멀티TV opportunities for the best writing, directing and acting talent in the world. Good stories are global-not culturally specific-and we are proud to be bj쏘 part of this venture.”Korea Newswire distributes your news across 강흥동성인게임장 “It'smedia channels through the industry’s largest press release 업비트API distribution network
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