Timor-Leste is the Portuguese-speaking country with most competitive tax system

NOVEMBER 26TH, 2013    NEWS

Timor-Leste (East Timor) is the Portuguese-speaking country with the best classification and Brazil the worst on the “Paying Taxes 2014” report on tax competitiveness drawn up by PricewaterhouseCoopers (PwC).

According to the PwC report that analyses the tax competitiveness of 189 economies, Timor-Leste is ranked 55th based on three indicators selected by the team of consultants: Overall rate of taxation, number of hours spent dealing with tax obligations, and number of payments required.

Cabo Verde (Cape Verde) was ranked in 80th place, Portugal in 81st, Mozambique in 129th, Guinea Bissau in 153rd, Angola in 155th, Sao Tome and Principe in 156th and Brazil, in last place out of the eight Portuguese-speaking nations, in 159th place.

According to the report drawn up by PricewaterhouseCoopers in partnership with the International Financial Corporation (IFC), of the World Bank group, Cabo Verde rose 22 places in the ranking compared to last year’s report, Mozambique fell 24 places and Angola fell by one place. (macauhub)