Nasdaq GlobeNewswire

Tax compliance gets easier for companies, but new data highlights post – filing challenges


JAKARTA, Indonesia, 2016-11-17 03:00 CET (GLOBE NEWSWIRE) -- Economies around the world continue to make progress in simplifying and reducing the burden of tax compliance on businesses, says the latest edition of Paying Taxes 2017, a report by The World Bank Group and PwC.

Released today, the report finds that the Total Tax Rate decreased by 0.1 percentage points to 40.6 percent; time to comply declined by 8 hours to 251 hours; and the number of payments by 0.8 to 25 payments.

In an expanded analysis this year, the report finds that for some economies, post-filing processes for value-added tax (VAT) and corporate income tax (CIT) returns could be amongst the most challenging and lengthy processes for businesses to comply with. In some cases, the length of the processes can create cash flow and administrative delays for companies of more than a year.

The Paying Taxes 2017 report examines the ease of paying taxes in 190 economies. The report models business taxation in each economy using a medium-sized domestic case study company.

The reduction in the global average for time to comply of 8 hours is higher than in recent years reflecting ongoing improvements in electronic tax systems, and in particular as a result of reforms implemented in Brazil. Similarly, the fall in the payments sub-indicator is largely due to the introduction and use of electronic filing and payment systems, which was the most common feature of tax reform in the past year. The small decrease in the Total Tax Rate results from 44 economies increasing taxes while 38 recorded a reduction. It also represents a combination of a decrease in other taxes offset by small increases in both profit and labour taxes.

Globally, the most common feature of tax reforms in the past year was the introduction or enhancement of electronic systems for filing and paying taxes. Twenty-six economies implemented such changes. Jamaica was the top reformer, reducing the number of payments by 26 to 11.

The new additional research finds the interactions which a company has with tax authorities after a tax return has been filed can be some of the most challenging. The processes vary significantly from one jurisdiction to another.

The report finds that 162 economies have a VAT system, with a VAT refund available to the case study company in 93 economies. A fast and efficient process can be critical to ensure that a company does not face cash flow difficulties. For economies with a VAT refund system, on average it takes just over 14 hours to make the VAT refund claim, but it then has to wait over 5 months (almost 22 weeks) to receive the refund.

The analysis shows it typically takes less time to comply with a VAT refund in high income economies (almost 8 hours) than in low income economies (almost 27 hours). A VAT refund triggers an audit in 70% of economies, of which over half (58%) will go through a comprehensive audit.

The study also shows that 180 economies in the study levied corporate income tax in 2015. A voluntary correction to a corporate income tax return is likely to lead to a tax audit in 74 of these. On average, it takes the case study company almost 17 hours to correct the error in the CIT return. If the tax authority requires an audit, it will take just over 17 weeks to finalise. Examining the difference between low and high income countries, the study finds that in low income economies it can take more than twice as long to comply with procedures to correct CIT errors, and that low income countries are twice as likely to conduct an audit.

Augusto Lopez-Claros, Director, Global Indicators Group, Development Economics, World Bank Group said:

“Until now there has been little information around the cost of post-filing procedures. The new post-filing index has shown that there are considerable variations around the world in how tax authorities approach VAT refunds and corporate income tax audits. We hope that the new data will allow governments to better understand the impact that these procedures have on businesses and will help encourage them to reform and enhance them to make it easier for companies to do business.”

Andrew Packman, leader for Tax Transparency and Total Tax Contribution at PwC said:

“While we recognise the pressures on governments to raise tax revenues to fund public spending, Paying Taxes has shown that in many economies, governments and tax authorities can make it easier for companies to pay their taxes and this includes the ability to claim a VAT refund or deal with a corporate income tax audit. More efficient tax systems are good for businesses which in turn helps to promote economic growth and investment.”


1.    Paying Taxes 2017 measures all mandatory taxes and contributions that a medium-size company must pay in a given year as well as measuring the administrative burden of filing and paying taxes and complying with post-filing processes. Taxes and contributions measured include profit or corporate income tax, social contributions and labour taxes paid by the employer, property taxes, property transfer taxes, dividend tax, capital gains tax, financial transactions tax, waste collection taxes, vehicle and road taxes, and other small taxes or fees. For more information about the Paying Taxes study, visit:

2.    For the first time, this year’s Paying Taxes study has been extended to look at the processes that take place after a tax return has been filed. The new post-filing index measures two processes that might take place after filing; claiming a value added tax (VAT) or goods services tax (GST) refund, and correcting an error on a corporate income tax (CIT) return including going through an audit when applicable. For more information on Paying Taxes visit

3.    Paying Taxes builds on the World Bank Group’s Doing Business reports’ chapter on Paying Taxes. For more information on the Doing Business report series, visit:

About the World Bank Group
The World Bank Group plays a key role in the global effort to end extreme poverty and boost shared prosperity. It consists of five institutions: the World Bank, including the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA); the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). Working together in more than 100 countries, these institutions provide financing, advice, and other solutions that enable countries to address the most urgent challenges of development. For more information, please visit, and

About PwC 
At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 223,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at

PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see for further details.

© 2016 PwC. All rights reserved

         World Bank Group
         Indira Chand
         Phone: +1 202 458 0434
         Rowena Mearley
         Tel: +1 646 313 - 0937 / + 1 347 501 0931

Om Nasdaq GlobeNewswire

Nasdaq GlobeNewswire
Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

+1 212 401 8700

NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.

Følg saker fra Nasdaq GlobeNewswire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Nasdaq GlobeNewswire

Orion Biotechnology Canada Announces Closing of $5 Million Financing20.3.2018 22:03Pressemelding

OTTAWA, March 20, 2018 (GLOBE NEWSWIRE) -- Orion Biotechnology Canada Ltd today announced it has completed a US$5 million private placement financing late last year. "We are delighted to have secured the financial resources during this period of rapid expansion," said Mark Groper, President and Chief Executive Officer. "This financing allows Orion, as a private company, to continue development of its expanding pipeline of innovative products, including expansion of our infrastructure and human resources. It also provides external validation of the unique value proposition of the company's pipeline products which include candidates in the areas of Sexual Health, Oncology and Multiple Sclerosis. Orion is a research and development organization committed to developing novel approaches to address serious health issues. A prime example of this is the company's microbicide candidate, OB-001, which is being evaluated as a contraceptive gel which also prevents the transmission of HIV. "This is

Meltwater acquires privacy-by-design social data platform DataSift to strengthen its AI-driven analytics offering20.3.2018 18:45Pressemelding

SAN FRANCISCO, March 20, 2018 (GLOBE NEWSWIRE) -- Meltwater, a pioneer of media intelligence and now Outside Insight, today announced its acquisition of DataSift, a privacy-by-design data and analytics platform that extracts real-time insights from social and online data sources, while protecting user privacy. This acquisition, Meltwater's sixth in the last year, solidifies the company's emergence as a leading provider of AI-powered competitive intelligence through its Outside Insight platform. "By combining advances in machine learning and the vast amount of publicly available information on the internet, you can today understand and track Porter's Five Forces in real time to understand strategic opportunities and threats for your business. Executives that take advantage of this new opportunity create an unfair information advantage over those who don't," explained Jorn Lyseggen, CEO and founder of Meltwater. "DataSift has built a scalable platform that lets developers build data scie

VITEC Adds Powerful New Video Wall and DRM Functionality to EZ TV IPTV and Digital Signage Platform20.3.2018 17:00Pressemelding

SUNNYVALE, Calif., March 20, 2018 (GLOBE NEWSWIRE) -- VITEC, a worldwide leader in advanced video encoding and streaming solutions, today announced that its award-winning, enterprise-grade EZ TV IPTV and Digital Signage Platform can now manage and drive complex video wall setups and is interoperable with the latest content protection and DRM standards required by the leading services providers for IPTV deployments. These capabilities are fully supported through the EZ TV Platform, with DRM integration also available across VITEC's IPTV set-top-boxes, signage end-points, and the cutting-edge EZ TV IPTV mobile app. Attendees will see a live demonstration of the new EZ TV release at the 2018 NAB Show, April 9-12, at the Las Vegas Convention Center - booth SL6821. VITEC's video wall solution is designed to simplify deployment and management of projects involving IPTV, digital signage, and video wall content, while delivering a breathtaking visual experience. The new EZ TV video wall proces

Librestream Powers New Remote Assistance Service from Safran Helicopter Engines20.3.2018 16:00Pressemelding

WINNIPEG, Manitoba, March 20, 2018 (GLOBE NEWSWIRE) -- Librestream is pleased to announce that Safran Helicopter Engines has successfully deployed a remote video technical assistance service using the Onsight collaborative platform. Safran Helicopter Engines first announced this innovative Expert link branded service at the HAI Heli-Expo February 28 in conjunction with Heli Austria, Rotortech Services Inc and Heligo, first customers of this new service. Using the Expert link service, helicopter operators can connect immediately with remote experts at Safran Helicopter Engines to assist with technical diagnostics and maintenance tasks. The service includes a secure live video feed that remotely brings the eyes and ears of Safran experts into customer facilities to mentor and share maintenance best practices. "We felt that Expert link was an important part of our digital service strategy, which also includes services such as our EngineLife® Customer Portal and Health Monitoring solutions

SD-WAN Market Report Names Aryaka Top Independent Pure Play SD-WAN Market Leader Again in CY Q4 201720.3.2018 14:53Pressemelding

IHS Markit Report illustrates SD-WAN market is a two-horse race between Aryaka and VMware, showcases Aryaka's significant lead over Cisco, Riverbed, Silver-Peak, and others SAN MATEO, Calif., March 20, 2018 (GLOBE NEWSWIRE) -- Aryaka® maintained its position as the largest independent pure play SD-WAN provider by market share and revenues, and continued its march to close the gap on VMware in Q4 2017, according to the latest industry report from IHS Markit. The "IHS Markit's Data Center Network Equipment Quarterly Market Tracker" says Aryaka garnered 17% share of the SD-WAN market in Q4 2017, once again securing the company's lead over legacy networking vendors like Cisco and Riverbed. Aryaka's market share is listed as only 2% less than VMware's. "[Aryaka's] Customer deployments continue to focus on the replacement of MPLS with several large wins in the US, a large service provider partner in Asia Pacific, and a large service provider partner in EMEA serving the automotive sector," Cl

NRT Acquires OfferCraft, Award-Winning Provider of Artificial Intelligence, Gamification and Digital Content Solutions20.3.2018 14:22Pressemelding

Acquisition of hyper-engagement platform enhances NRT's ability to deliver transformative, revenue-generating technology to its customers LAS VEGAS, March 20, 2018 (GLOBE NEWSWIRE) -- NRT Technology Corp. ("NRT"), a leading provider of digital commerce experiences in gaming and financial services, announced that it has acquired the assets of privately held OfferCraft, a software company that uses artificial intelligence and gamification to drive loyalty, engagement and revenue. Terms of the agreement are not disclosed. The deal will allow NRT to integrate OfferCraft's patent-pending solutions into its existing kiosk, mobile, table games and cashless payment product lines, while also expanding into entirely new areas across nearly every digital channel. OfferCraft's artificial intelligence software allows offers, coupons and rewards to be distributed digitally across email, SMS, websites, social media, kiosks, the Point of Sale, signage, and more. Unlike traditional marketing content, t

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom