Moldova goes up 24 positions in World Bank Paying Taxes ranking
18:57 | 30.11.2016 Category: Economic
Chisinau, 30 November /MOLDPRES/ – Moldova has gone up 24 positions, compared to 2015, to position 31, in the World Bank Paying Taxes 2017 conducted in partnership with PricewaterhouseCoopers. The report which was published reviews tax procedures in 190 world countries.
According to the report, Moldova is placed in Chapter taxation among countries with a tax system performance, results achieved being close to EU average. Moldova gained 84.76 points out of 100 possible. Countries in the region have lower scores, Romania is ranked on position 43, Russian Federation is ranked on position 49 and Ukraine is ranked on 111.
The total tax rate in Moldova is 6.2 per cent higher than the regional average and represents a share of 40.4 per cent of total revenues, a result identical to that one in Poland and Holland. Mostly, around a third of bonds are taxes on income from wages and only 8.9 per cent is the income tax.
The time spent by businessmen to comply with tax laws in 2016 averages up to 181 hours, out of which 84 hours refer to social contributions and taxes on income of employees, 5 hours less compared to 2015, 42 hours for paying taxes on income from entrepreneurial activity and 55 for other tax bonds.
The total payments made by taxpayers were reduced to 10 in 2016 from 21 in 2016.
(Reporter V. Bercu, editor L. Alcaza)
