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World Bank, PwC Release New Paying Taxes Index

by Mike Godfrey, Tax-News.com, Washington

19 November 2015


The World Bank Group and PwC's new Paying Taxes report highlights that several countries have recently introduced or enhanced electronic tax filing and payment systems.

Paying taxes became easier for medium-sized companies globally, but authorities have shifted their focus from reducing tax rates for companies to embracing technology and easing the compliance burden, the report says.

Paying Taxes 2016 found that companies on average face a Total Tax Rate of 40.8 percent of commercial profits, down just 0.1 percentage point from last year. They face 25.6 tax payments per year on average and take 261 hours on average to comply with their tax requirements, a reduction of two hours compared with last year.

Over the past ten years, the global average time to comply has declined by 61 hours and the number of payments has decreased by 8.2, due in large part to the introduction and improvement of electronic filing and payment systems.

Economies that have invested in online filing and payment infrastructure are reaping a digital dividend from these systems, the report says. Low-income economies have made the fewest reforms to cut the amount of time it takes to comply with their domestic tax regimes or reduce the number of payments.

The study also discusses the benefits that good tax compliance systems can have in helping to reduce the size of the informal economy.

TAGS: compliance | tax | economics | value added tax (VAT) | tax compliance | fiscal policy | tax rates | tax reform | Tax

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