Mideast has least and less complex tax laws

The Middle East has fewer and less complex tax laws in the world, according to Paying Taxes 2012, an annual report issued by PwC, the WorldBank, and IFC.

The report compared tax systems across 183 countries from a business perspective, revealing that all six GCC states fall within the top 15 countries within the ranking. The UAE was ranked sixth in 2012 down from 5th in 2011, as follows:

• Qatar – 2nd
• UAE – 6th
• KSA – 7th
• Oman – 8th
• Kuwait – 12th
• Bahrain – 13th

On average there are almost half as many taxes levied in the Middle East, compared to the global average. Moreover, the time to complete tax obligations is significantly lower than the rest of the world. The findings further support the region’s growth prospects and its position on the global stage.

“The UAE has again been ranked in the top 10 for the ease of paying taxes,” commented Dean Rolfe Tax Partner at PwC.

"A key finding in this year’s report highlights that when governments continue to reform their tax systems they improve their overall rankings to become more internationally competitive.  Such reforms might include the ability to file and pay taxes electronically.”

The Paying Taxes data is produced as part of the World Bank and IFC's Doing Business study (www.doingbusiness.org).

Data on business taxes is taken from a questionnaire sent by the World Bank to PwC offices and other third-party contributors around the world. 
Some of the key findings in this year’s report include: In the past seven years more than 60 per centof the economies made paying taxes easier with 244 reforms. And between June 2010 and May 2011, 33 economies made it easier to pay taxes.
 

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