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World Bank Reveals World's Easiest Countries In Which to Do Business

By William Suphan     Nov 11, 2007 in Business
Are you thinking about starting a new business? Maybe you've thought about becoming an expatriate and starting up a business in another country? The World Bank's new report can show you where to go!
The World Bank worked together with the International Finance Corporation to collate and study a great number of statistics in order to find the most business-friendly countries in the world.
The study, known as the Doing Business Report, took many factors into account, such as business laws, import and export regulations, income and payroll taxes, the transparency (or lack thereof) of the governments in question, required start-up capital and many other business-related concerns.
Topping the list was Singapore, which also won last year. It is followed, in order, by New Zealand, the United States, Hong Kong, and Denmark. The overall worst country for business is Democratic Republic of Congo, which was slightly worse than the Central African Republic, Guinea-Bissau, the Republic of Congo and Burundi.
Several business profiles were examined in the report, including a fish exporter from Yemen known as Tarik. According to Reason Magazine, Tarik wants to sell his tuna to Germany, where he could get $5.20 per kilogram, but Yemen's export regulations take 33 days for processing, by which time the fish would spoil. So, he ships it to Pakistan for $1.10 a kilogram. The slowest border belongs to Iraq (guess why), at 120 days.
Many in the United States complain of corporate taxes, however, they should be glad they don't have the same taxes as Gambia, which has the highest corporate tax rate at a whopping 286.7%!
So, anyone up for opening a brew and view (pub/movie theater) in Singapore?
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