Estonia's business environment ranked 12th in world by World Bank ({{commentsTotal}})

The World Bank ranked Estonia 14th in the world for ease of paying taxes.
The World Bank ranked Estonia 14th in the world for ease of paying taxes. Source: (Postimees/Scanpix)

Estonia retaind its position as 12th among 190 countries in the latest edition of the World Bank's Doing Business rankings published on Tuesday.

Estonia retained its 12th place among 190 countries in the latest edition of the World Bank's Doing Business report published on Tuesday.

"As Minister of Finance, I am pleased to see that the World Bank has deemed Estonia to deserve 14th place in ease of paying taxes — this is definitely recognition for the good work of our Estonian Tax and Customs Board (EMTA)," Minister of Finance Toomas Tõniste (IRL) said in a press release.

He noted that even though 12th place on the overall scoreboard was a good result, there was definitely room for development in several areas.

This year's rankings were topped by New Zealand, Singapore and Denmark. Of Estonia's neighbors, Finland ranks 13th, Latvia 19th and Lithuania 16th.

Estonia received good scores in the report in the registration of real estate, obtaining of construction permits and enforcement of contracts. The report finds that Estonia could do more to ensure the protection of the rights of minority shareholders, better resolve insolvencies and ensure the availability of electricity supply.

Doing Business 2018: Reforming to Create Jobs, a World Bank Group flagship publication, is the 15th in a series of annual reports measuring the regulations that enhance business activity and those that constrain it. Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 190 economies — from Afghanistan to Zimbabwe — as well as over time.

Doing Business measures regulations affecting 11 areas of the life of a business. Ten of these areas are included in this year's ranking on the ease of doing business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. Doing Business also measures labor market regulation, which was not included in this year's ranking.

Data in Doing Business 2018 is current as of June 1, 2017.  

Editor: Aili Vahtla

Source: BNS

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