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29 April, Saturday

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Russian tax system is on the 134th place in the World Bank's rate

Business

The tax system of Russia holds the 134th position in the rate of convenience among the national taxation systems, made by the World Bank. When forming the list of such systems the experts take into account such criteria as the number of taxes, the volume of these taxes and the time one should spend for preparation of all necessary documents. According to the results of this investigation it can be found out that the tax system in Russia is too complicated, the number of taxes is high and the tax rates are also high  as well as the time, spent for registration and payment of taxes.

Thus, every year Russian businessmen spend 448 hours or 56 workdays for these procedures, at that  giving almost a half of their profits back. And, for example, in the United States business people pay just 10 taxes, spending for that 187 hours annually. The tax systems of Maldives, Qatar, Hong Kong, Arab Emirates and Ireland are called the most convenient.

Tags: taxes,rates
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