PwC and the World Bank Group have published Paying taxes 2020, the 14th edition of their study providing governments, businesses and tax administrations with an insight into how their tax systems compare internationally. This year’s study looks at how advances in technology make paying taxes easier.
The four key measures for the case study company are:
the number of payments: at 23.1, this is down 0.7 on 2017 (the index represents the number of taxes filed and paid electronically by a majority of medium-sized taxpayers, with no requirement to file hard copies of tax returns or supporting documentation);
the time to comply: at 234 hours, this is down two hours from 2017. Different approaches to technology have resulted in significant local variations with the time to comply down 23% in Brazil and Vietnam;
the total tax contribution rate: at 40.5%, this is up 0.1% despite significant policy shifts in some individual economies such as the introduction of VAT in the Middle East; and
the post filing index: at 60.9 out of 100, this is up 1.0 since 2017. This measures the time involved in dealing with VAT refunds and corporate income tax corrections.
The UK is ranked 27 out of 189 countries with scores of 9.0 for number of payments, 114 hours for the time to comply, 30.6% for the total tax contribution rate and 71.0 out of 100 for the post filing index. The UK scored above average except on the post filing index.
PwC and the World Bank Group have published Paying taxes 2020, the 14th edition of their study providing governments, businesses and tax administrations with an insight into how their tax systems compare internationally. This year’s study looks at how advances in technology make paying taxes easier.
The four key measures for the case study company are:
the number of payments: at 23.1, this is down 0.7 on 2017 (the index represents the number of taxes filed and paid electronically by a majority of medium-sized taxpayers, with no requirement to file hard copies of tax returns or supporting documentation);
the time to comply: at 234 hours, this is down two hours from 2017. Different approaches to technology have resulted in significant local variations with the time to comply down 23% in Brazil and Vietnam;
the total tax contribution rate: at 40.5%, this is up 0.1% despite significant policy shifts in some individual economies such as the introduction of VAT in the Middle East; and
the post filing index: at 60.9 out of 100, this is up 1.0 since 2017. This measures the time involved in dealing with VAT refunds and corporate income tax corrections.
The UK is ranked 27 out of 189 countries with scores of 9.0 for number of payments, 114 hours for the time to comply, 30.6% for the total tax contribution rate and 71.0 out of 100 for the post filing index. The UK scored above average except on the post filing index.
