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World Bank Doing Business report cites Poland as the most improved business environment worldwide

Andrzej Dmowski, managing partner of Russell Bedford DZO, Poland, comments on World Bank Paying Taxes survey

 
PRLog - Nov. 2, 2012 - LONDON, U.K. -- The annual World Bank Doing Business report shows Poland up a staggering 19 places in its rankings of the world’s best business environments, from 74th to 55th.  This it attributes to four specific reforms: easier property registration, greater use of electronic filing and payment systems, reduced bureaucracy in insolvency filings, and the introduction of a new civil procedure code reducing the time necessary for enforcement of commercial contracts.

With the Doing Business series now in its 10th year, the new report, Doing Business 2013: Smarter Regulations for Small and Medium-Size Enterprises, assesses regulations affecting domestic firms in 185 economies, ranking each on the basis of various criteria including ease of starting a business, insolvency resolution, and cross-border trade.  Since 2009, Russell Bedford member firms have contributed to the report’s Paying Taxes survey, which examines the regulatory and financial burden of tax compliance on companies worldwide.

In terms of tax compliance obligations the country again shows significant improvement, moving up 10 places to 114th.  However, Andrzej Dmowski, managing partner of Russell Bedford DZO, Warsaw, believes there is still room for improvement:  “Polish businesses are still having to spend an average of 286 hours every year on tax compliance – more than any other country in the EU.  We work closely with clients to minimise the impacts of a still cumbersome system, wherever possible.  But Poland will never be genuinely competitive with other European economies until further reform is adopted as a political priority at the highest level.”  

Social security and VAT compliance appear to be the most time-consuming areas, taking an average 124 and 100 hours per year respectively.

END

Notes to Editors

About Russell Bedford International

Established in 1983, Russell Bedford International is a global network of independent firms of accountants, auditors, tax advisers and business consultants.  Ranked amongst the world’s leading accounting and audit networks, Russell Bedford is represented by some 460 partners, 5000 staff and 280 offices in more than 90 countries in Europe, the Americas, the Middle East, Africa and Asia-Pacific.  Russell Bedford International is a member of the IFAC Forum of Firms and a member of EGIAN, the European Group of International Accounting Networks and Associations.

Contacts:

Andrzej Dmowski
Russell Bedford DZO Sp. k.
Blue Point, 1st Floor, Office No. 105
Al. Stanow Zjednoczonych 61A
04-028 Warsaw, Poland
T: +48 22 516 26 80
E: andrzej.dmowski@russellbedford.pl
W: www.russellbedford.pl

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