Posted by Bob Brunskill
The Middle East remains the easiest region in the world to pay taxes thanks to its fewer and less complex tax laws, new research has found.
According to Paying Taxes 2011, an annual report issued by PwC, the World Bank and IFC, all six Gulf Cooperation Council states fall within the top 14 countries that are regarded as the easiest to pay tax globally.
Indeed, the UAE was ranked fifth globally while Qatar was second and Saudi Arabia sixth.
The report also revealed that on average there are almost half as many taxes levied in the Middle East compared to the global average while the time to complete tax obligations was found to be significantly lower in the region than the rest of the world.
"Paying taxes in the Middle East has traditionally been, and continues to be, relatively straight forward," commented Dean Rolfe, Middle East Tax Leader at PwC.