Yes, it’s April and we are in the tax crunch. Bradley R. Hughes and GOOD created this great infographic to showcase a recent PricewaterhouseCoopers survey ranking the difficulty for businesses to file their taxes in every country in the world.
According to their results, the US ranked 64th easiest out of 183 countries. With 11 payments a year, an average of 187 hours spent on those taxes and a total tax rate of 46.8% (a sum of profit, consumption and labor taxes), the US is very average for its taxes as compared worldwide.
It looks like we have an incredibly difficult tax process as compared to the Maldives. The small island nation located south of India in the Indian Ocean and home to the title of lowest country on the planet with an average ground level of 4’11” above sea level, pays only 3 times a year with an average of 0 hours spent complying and a total tax rate of 9.3%.
On the other end of the spectrum, though, are the Central African Republic and Belarus, the countries ranked the most difficult to pay taxes in. Central African Republic, a country in the middle of Africa, to the southwest of Sudan, pays 54 times a year in an average of 504 hours spent with a whopping 203.8% total tax rate. Belarus, an eastern European country just west of Russia was ranked the most difficult to pay taxes in with 82 payments yearly, 798 hours spent on them and 80.4% total tax rate.
So with this information, are you thinking about relocating your business to the Maldives and shutting down your branch in Belarus?