New Zealand keeps the top spot for ease of doing business
According to the "Doing Business 2018 Report", New Zealand again remains the top spot for ease of doing business. This study was compiled from the input of over 13 000 experts from all over the world (in total different 190 economies).
In this study, the ranking is being determined by the Ease of Doing Business Index which rates countries according to 11 factors. These indicators cover varieties from starting a business to getting electricity. The ranking shows us how difficult or easy it is to start a business or to get electricity in different countries.
In the report, New Zealand is ranking number one. With a score of 86.55 points, we have the highest overall distance to the other OECD high-income economies. The report is based on these ten factors, with the ranking of New Zealand in brackets:
1) Starting a business (1)
2) Dealing with construction permits (3)
3) Getting electricity (37)
4) Registering property (1)
5) Getting credit (1)
6) Protecting minority investors (2)
7) Trading across borders (56)
8) Paying taxes (9)
9) Enforcing contracts (21)
10) Resolving insolvency (32).
From the rankings, we can see the main reason for New Zealand being at the top is that New Zealand is great at providing official permissions and permits of registering a business, approving to build a warehouse, approving of property registration, protecting the interest of minority investors and having easy access on getting credit.
Another reason for New Zealand being at the top is as of its reforms on paying taxes. The main points of these reforms are about the introduction or improvement of systems for filing and paying taxes online. In addition, time is needed for complying and receiving back value-added tax and completing a tax audit in the new criteria.
In case you want to see the whole report in order to obtain more information, here is the link for downloading this report.
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This article was published in the Zealancer-News 59.