Canada in top 10 easiest places to pay corporate taxes: PwC-World Bank report

TORONTO – A new report by PwC and the World Bank Group has again ranked Canada among the top 10 easiest places in the world to pay corporate taxes.

The joint study ranked Canada eighth for a second year in a row and the United Arab Emirates was first overall on the list of 189 countries.

The report ranked countries on a scale that considered tax payments per year, the time taken to compile returns and submit payments and the total tax rate for a hypothetical small- to medium-sized business.

PwC says the typical small- to medium-sized company in Canada has eight tax payments to make a year, takes 131 hours to comply with its tax filings and pays a total tax rate of 24.3 per cent on its profits.

The global average of the 189 economies included in the survey was 26.7 payments a year, 268 hours to compile tax returns and make payments and a total tax rate of 43.1 per cent.

Canada ranked ahead of many of its direct competitors, including the United Kingdom, which was 14th, and the United States at 64th.