PricewaterhouseCoopers, the World Bank and the IFC, recently released a study which compares tax regimes across 185 economies using a case study company and ranks them according to the relative ease of paying taxes. Overall, the study ranked Australia at 48th place (the United Arab Emirates ranked 1st). In relation to Australia, the study reported that the average time to comply was 109 hours (much lower than the world average of 267 hours, and the Asia Pacific average of 231 hours). In relation to the number of payments, Australia had 11 payments per year – again, lower than the world average of 27.2 payments, and the Asia Pacific average of 24.8 payments per year.
The study is available on the PwC website.
[LTN 227, 22/11]