Staff Reporter :
Starting a new business becomes costlier and paying tax becomes more difficult in Bangladesh, according to the World Bank Doing Business Index 2017.
The Doing Business Index released on Wednesday across the world, has identified these things reflecting the fact that Bangladesh is still far behind on ease of doing business.
The global ranking puts the country on 176th among 190 countries, showing that Bangladesh has advanced two steps over last year’s comparable ranking (178th).
Nevertheless, the country is the seventh among eight countries in South Asia in the index.
The report mentioned that the country earlier made paying taxes less costly for companies by reducing the corporate income tax rate.
But now the country made paying taxes more complicated for companies by increasing the time it takes to prepare VAT and corporate income tax returns.
According to the report, Bangladesh moved two positions up to 176 in the World Bank’s ranking of the ease of doing business.
Bangladesh’s distance to frontier (DTF) score, which used to compile the rankings in the Doing Business report, stood at 40.84 percent in the 2017 report, up from 40.68 percent a year ago.
Only Afghanistan (183) among the eight South Asian countries came in lower than Bangladesh in the report, “Doing Business 2017: Equal Opportunity for All”, which was released Tuesday.
Bhutan topped the ranking (73) in South Asia, followed by Nepal (107), Sri Lanka (110), India (130), Maldives (135), and Pakistan (144).
Starting a new business becomes costlier and paying tax becomes more difficult in Bangladesh, according to the World Bank Doing Business Index 2017.
The Doing Business Index released on Wednesday across the world, has identified these things reflecting the fact that Bangladesh is still far behind on ease of doing business.
The global ranking puts the country on 176th among 190 countries, showing that Bangladesh has advanced two steps over last year’s comparable ranking (178th).
Nevertheless, the country is the seventh among eight countries in South Asia in the index.
The report mentioned that the country earlier made paying taxes less costly for companies by reducing the corporate income tax rate.
But now the country made paying taxes more complicated for companies by increasing the time it takes to prepare VAT and corporate income tax returns.
According to the report, Bangladesh moved two positions up to 176 in the World Bank’s ranking of the ease of doing business.
Bangladesh’s distance to frontier (DTF) score, which used to compile the rankings in the Doing Business report, stood at 40.84 percent in the 2017 report, up from 40.68 percent a year ago.
Only Afghanistan (183) among the eight South Asian countries came in lower than Bangladesh in the report, “Doing Business 2017: Equal Opportunity for All”, which was released Tuesday.
Bhutan topped the ranking (73) in South Asia, followed by Nepal (107), Sri Lanka (110), India (130), Maldives (135), and Pakistan (144).
