We are pleased to present the fifth edition of Paying Taxes – the global picture. This is a joint publication produced by the World Bank, the International Finance Corporation (IFC) and PwC. The study is based on data collected as part of the Doing Business project.
This is the most challenging time ever for paying taxes. The recent global downturn has changed the economic landscape significantly and in an unprecedented fashion. Governments in economies of all sizes and at all stages of development are struggling with the tax policy choices available to them. For companies, the challenge is dealing with the loss of public trust and increased scrutiny over how much tax they pay.
Taxes are essential to economic and social development. Business has a key role to play and it is important for governments, business and civil society to foster a new collaborative approach to meet the common aims of a fair, stable and sustainable tax system.