22/11/2006 1:07:24 pm
Total Tax Rate - And Hours of Tax Bureaucracy. Corporate tax is just one of many taxes paid by companies. Other taxes include, for example, payroll taxes, VAT and property tax. Now, PricewaterhouseCoopers and the World Bank have calculated the total tax burden on companies in 175 different countries. "Paying taxes - the global picture" can be read here (pdf). They have also analysed how many hours it takes annually for companies to actually deal with all the bureaucracy surrounding the payment of all the taxes. The differences are great indeed - from 68 hours in Switzerland to 602 hours in Spain. Below a diagram from The Economist that shows both the total tax rate and the hours of bureaucracy.