Companies in Romania pay the most taxes in the world, study shows

Romania is followed by Belarus with 112 and Uzbekistan with 106. At the other end of the top are Sweden with two annual payments and Maldive and Qatar, with one payment each.

The “Doing Business” report published annually by the World Bank analyzes the framework for developing a business in a country. The institution uses 10 indexes which measure how easy it is to open and close a business, to pay taxes and hire people plus the way in which the state protects investors.

Companies in Romania need an average 202 hours per year to pay their taxes, which total about 48 percent of the profit obtained by a firm in an year.

Bulgaria ranks 94 in the top, with 17 annual taxes. However, companies in Bulgaria need an average 616 hours per year to pay them, three times more than in Romania.

Higher taxes in a country are associated to reduced private investments and to a smaller number of businesses in the economy.


Source: NewsIn