Romania has most taxes for companies worldwidePublish date: 11-09-2008
Romania has the highest number of taxes (113) for companies of all 181 states analyzed in World Bank's "Doing Business 2009" report. Companies in Qatar and Maldives only have to pay one tax.
"You have to cut taxes for some of the profit, if it is reinvested. Another solution would be new legislation to provide facilities for holdings that want to come to Romania," says lawyer Gabriel Biris, specialized in fiscal legislation.
Regarding the time spent to pay the taxes, Maldives rank first, with zero hours, and Brasil last, with 2,600 hours a year. Sweden is among states with lowest tax number (2), while Bulgarian companies pay 17 taxes a year, but spend more time paying them.
Companies in Belarus pay 112 taxes. The World Bank report also shows 202 hours are needed to pay all the taxes in Romania. They represent 48 percent of a company's profit.
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