Paying taxes is easiest in Ireland, says PwC
IRELAND is still the easiest country in Europe for paying business taxes, a new report by the World Bank Group and accountants Pricewaterhouse- Coopers declared yesterday.
The latest accolade marks the third year in a row that Ireland has beaten off its European rivals, while Ireland also comes sixth in the world rankings.
The index is compiled from the time it takes companies to comply with business tax rules, the cost of taxes, and the number of different tax payments made. Ireland ranked second in Europe for the time to comply, at 76 hours; second in Europe for the total tax rate, calculated at 26.5pc; and ninth in Europe for the number of taxes, which came in at nine.
PWC Ireland senior tax partner Colm Kelly described the result as "very good news for Ireland, particularly given the ongoing challenging economic environment", adding that Revenue's advances in online filing had helped Ireland to victory. "This transparency and relative ease to pay taxes will be an even more important element in providing us with an opportunity to help multinational corporations establish headquarter operations in Ireland," he added.
Across Europe, Ireland leads second-placed Denmark, third-placed Luxembourg, and the UK and the Netherlands in fourth and fifth place respectively. Globally, Ireland's only betters are the Maldives, which was placed first; Qatar, second; Hong Kong, third; the United Arab Emirates, fourth; and Singapore, which was placed fifth.