London, United Kingdom, November 15, 2013 --(PR.com
)-- The latest edition of the annual World Bank Doing Business report has seen Poland singled out for particular commendation.
With the report now in its 11th year, Doing Business 2014: Understanding Regulations for Small and Medium-Size Enterprises analyses the impact of regulations throughout the business lifecycle across 189 jurisdictions, ranking economies on the basis of 10 indicators including ease of starting a business and paying taxes. Russell Bedford member firms have contributed to each report’s Paying Taxes survey since 2009, contributing data on tax regulation, recent reforms, and the real costs of tax compliance worldwide.
The report cites Poland as having "improved the most in the Doing Business measures in 2011/12 … making it easier to register property, pay taxes, enforce contracts and resolve insolvency."
While the country's overall ranking for ease of doing business improved by only three places on last year, this masks an improvement of 29 places over the last two years. At 45th in the global ranking, Poland's economy trumps other European and Middle Eastern peers including Bahrain, Oman and Qatar as well as Spain, Luxembourg, Italy and Greece. The report further states, "Poland is now classified as a high-income economy, a remarkable achievement over two decades."
However, Andrzej Dmowski, managing partner, Russell Bedford DZO, Poland, points to the need for further reforms in tax regulation – a situation reflected in the country's rankings for ease of paying taxes, where it dropped nine places to 114. “We are delighted to continue supporting the World Bank in sourcing data for this report – and it is highly gratifying to see Poland's many reform initiatives recognised in this way. We know at first hand, however, the challenges many businesses face in managing their tax compliance, and will continue to lobby for further reform in this area."
Notes for Editors
For more information about the World Bank's Doing Business reports, please visit www.doingbusiness.org
About Russell Bedford International
Established in 1983, Russell Bedford International is a global network of independent firms of accountants, auditors, tax advisers and business consultants. Ranked amongst the world’s leading accounting and audit networks, Russell Bedford is represented by some 460 partners, 5000 staff and 280 offices in more than 90 countries in Europe, the Americas, the Middle East, Africa and Asia-Pacific. Russell Bedford International is a member of the IFAC Forum of Firms and a member of EGIAN, the European Group of International Accounting Networks and Associations.
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