Belarus Ranked 57 in World Bank's Doing Business 2015
According to its 2015 Doing Business report, the World Bank rated Belarus as #57 on its Ease of Doing Business scale.
The World Bank issued its 2015 Doing Business report where 189 economies of the world are ranked according to the ease of doing business in this or that country. The rating is based on indicators that measure and benchmark the regulations applying to small and medium-sized businesses through their life cycle.
The report presents results for two aggregate measures, namely the distance to frontier score and the ease of doing business ranking.
The ranking Doing Business 2015 is based on the following ten indicators:
- Starting a business
- Dealing with construction permits
- Getting electricity
- Registering property
- Getting credit
- Protecting minority investors
- Paying taxes
- Trading across borders
- Enforcing contracts
- Resolving insolvency.
Comparing to other countries of the Eurasian Economic Community customs union, Belarus ranks better than its partner states Russia (62nd) and Kazakhstan (77th). Comparing to the post-Soviet states, Belarus yields to Georgia (15th), Estonia (17th), Latvia (23rd), Lithuania (24th), and Armenia (45th). However, Belarus leaves behind not only Russia and Kazakhstan, but also Moldova (63rd), Ukraine (96th), Azerbaijan (80th), Kyrgyzstan (102nd), Uzbekistan (141st), and Tajikistan (166th).
Since the previous report, Belarus has made a significant progress in the category Paying Taxes and went up by 47 points. The World Bank took into account the essential reforms in the Belarusian taxation system, namely an affluent reduction of the number of hours spent on the payment of taxes (from 319 to 183 hours), as well as reduction of the total number of payments per year (from 10 to 7) and total tax rate (% of profit) — from 54 to 52 percent. In addition, Belarus improved its position in the category Dealing with construction permits (+ 3 points) and Trading across borders (+1 point).
Read more at Doing Business 2015.