UK still in top 20 for easy taxpaying

The UK is still in the top 20 countries around the world for ease of paying taxes, along with fellow EU countries Ireland, Denmark and Luxembourg, a new report has found. Launched by the World Bank, the International Finance Corporation and PricewaterhouseCoopers, the Paying Taxes 2009 report found that in 2007/08 36 economies made it easier to pay taxes, with tax authorities worldwide overhauling tax systems by reducing taxes, streamlining administrative processes and modernising payment systems Reforms that proved most popular were reducing corporate taxes (in 21 economies) and improving electronic filing and payments systems efficiency (in 12 economies). The number of taxes paid by businesses were reduced by eight economies, and on average 36% of the overall time to comply with tax systems and 48% of the number of tax payments are spent on consumption taxes. Susan Symons, partner at PwC, said: 'Corporate income tax reform has had a positive impact for government and business in a number of economies, yet these benefits could be multiplied if tax reform is looked at in its entirety.' Economist for the World Bank - IFC Rita Ramalho added: 'Countries are easing the complexity of their tax system and reducing the cost burden for businesses. Since 2004, average total tax rates have been reduced by 3% and time to comply with taxes decreased by 5%. This reform effort can broaden the tax base and increase tax revenues.'
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