openPR Logo
Press release

Ukraine up 42 places in this year’s World Bank Paying Taxes survey

This year’s report, Doing Business 2018: Reforming to Create Jobs, shows Ukraine’s tax regime to be one of the best improved over the past 12 months, with the country rising 42 places, from 84th to 43rd.
Published annually since 2003, the World Bank Doing Business project provides objective measures of business regulations for local firms in 190 economies worldwide. Russell Bedford International member firms have assisted the World Bank in researching its annual Paying Taxes survey since 2009, contributing data on tax regulation, recent reforms, and the real costs of tax compliance worldwide.
Ukraine’s success in this year’s Paying Taxes survey is directly attributable to reductions in labour taxes and contributions, now an effective 24.8 percent of profits against 43.1 percent last year – a move which has seen the total tax take reducing from 52.3 percent to 37.8.
More broadly, this year’s report shows no change on last year’s top-performing countries, with New Zealand, Singapore and Denmark again taking the top three slots. The report’s Paying Taxes survey this year shows some remarkable improvements in individual countries’ regulatory regimes and again confirming greatest progress among emerging markets, with El Salvador, Vietnam, Uzbekistan, Angola and India showing exponential improvements, up 105, 81, 60, 54 and 53 places, respectively. Italy shows the best performance of OECD high income economies, moving from 126 to 112, while the United Kingdom, conversely, shows its worst performance in recent years, down 13 places from 10 to 23.
Dmytro Tkachenko, Partner, Russell Bedford RCG, Kyiv, commented: “The impact of rationalising Ukraine’s employee tax regime cannot be overestimated – the country’s improved standing in this year’s Paying Taxes rankings comes in the face of a three-percent increase in profits tax. While perhaps inevitable in the light of the current challenges facing the country, we will continue working with government and the business community to mitigate the worst impacts of this, and ensure Ukraine remains a competitive place to do business.”

At Russell Bedford International, we specialise in helping companies meet the challenges that international business expansion presents. Since 1983, our worldwide network of accountancy firms has provided financial expertise and business consultancy to companies within many different markets and industries.

Russell Bedford International
3rd Floor, Paternoster House
65 St Paul's Churchyard
London
EC4M 8AB
United Kingdom

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Ukraine up 42 places in this year’s World Bank Paying Taxes survey here

News-ID: 830958 • Views: 308

More Releases from Russell Bedford International

Russell Bedford appoints leading CPA firm in South Korea
Global professional services network, Russell Bedford International, has announced the appointment of Samhwa Accounting Corporation, leaving Moore Global to become Russell Bedford’s new member firm in South Korea. Established in Seoul in 1997, Samhwa Accounting Corporation expanded via mergers with Cheil Accounting Corporation in 2012 and Daegwang Accounting Corporation in 2013. The firm is now one of the largest firms of accountants and auditors in South Korea. Registered with the Financial
Russell Bedford supports World Bank Doing Business for 11th consecutive year
Professional services network Russell Bedford International has, for the 11th consecutive year, assisted the World Bank in researching its annual Doing Business project, contributing data on tax regulation, recent reforms, and the real costs of tax compliance worldwide. The report, Doing Business 2020 (which can be downloaded HERE), which over 40 Russell Bedford firms contributed to, shows that governments worldwide are motivated to undertake business reforms with the goal of
World Bank 2018 Doing Business report cites India as the world's most improved b …
Russell Bedford International member firm the Sharp & Tannan Group has again assisted the World Bank in researching its annual Doing Business project. This year’s report, Doing Business 2018: Reforming to Create Jobs, reveals India to be this year’s best performer, up 30 places in the overall Ease of Doing Business rankings (reaching the top 100 for the first time) and up 53 places in the report’s Paying Taxes survey. Published
Vietnam up a staggering 81 places in this year’s World Bank Paying Taxes surve …
This year’s report, Doing Business 2018: Reforming to Create Jobs, shows Vietnam up 81 places in the report’s Paying Taxes survey, and up 14 places in terms of overall rankings for Ease of Doing Business. Published annually since 2003, the World Bank Doing Business project provides objective measures of business regulations for local firms in 190 economies worldwide. Russell Bedford International member firms have assisted the World Bank in researching its

All 5 Releases


More Releases for Paying

Energy Invoice Validation: Avoid Paying More Than You Should
Energy invoice validation can prevent your business from paying more on energy than you should be. Even though an extra 3-5% every month may not sound like a huge amount of money, any unnecessary overspend should be avoided. And with the rising price of electricity in the UK (estimated to rise by over 30% by 2025), organisations should look to save on energy wherever they can. This is why energy
Carnauba Wax Market paying strong attention to improving expansion 2025
Carnauba Wax Market: Snapshot The global carnauba wax market, traditionally dominated by Brazil, has emerged as a major economic avenue in recent years thanks to the steady growth of the automotive and food and beverage sectors. The cosmetics sector’s growth in developing countries has also been vital for the global carnauba wax market and is likely to remain a key driver due to the growing demand for a variety of anti-pollution
Factors To Consider Before Paying The Liposuction Cost
Lots of factors need to be considered before scheduling the final date of the surgery but cost needs to be justified in regards with the rates of success. The overall price of the surgical procedure is impacted by various factors such as: • Fees of the aesthetic surgeon who is specialized in the fat removal surgery. • The charge of the services provided by the nursing staffs who provide the
ESL Jobs-respectable and High-paying Occupation in China
Nowadays, English is widely used all over the world. It is specified as the official language in international meetings, foreign trades, culture exchanges,etc. China, which isn’t an English speaking country, is eagerly to improve its English level, so many great ESL jobs come up. “Respect teachers and value education”is a fine tradition of Chinese. Therefore, ESL job is one of the most popular jobs in China and enjoys a very
Secure your data instead of paying ransom money
Protect your data against ransomware with PoINT Storage Manager Siegen. In view of the rapidly rising number of ransomware attacks in the world, PoINT Software & Systems GmbH recommends archiving data using PoINT Storage Manager. In case of an attack, users can immediately access archived files without first having to restore backups. Alternative storage systems such as cloud/object, tape or optical media can be used for additional archiving protection. These technologies
CRUISE EXPERTS TRAVEL’S AGGRESSIVE GROWTH PAYING OFF
VANCOUVER, BC, March 2, 2011 – As Cruise Experts Travel enters its 17th year in business, the agency has been busier than ever helping clients plan their cruise vacations. The agency saw over 30% revenue growth in 2010. “Our continued growth, in a very competitive market, is the result of our ability to offer competitive pricing, attractive booking extras and friendly cruise specialists that are knowledgeable and look after the details,”