As well as corporate income tax, the study also covers social contributions and labour taxes paid by the employer, property taxes, property

transfer taxes, dividend tax, capital gains tax, financial transactions tax, waste collection taxes, and vehicle and road taxes.

The report reveals that in addition to being the easiest country in Europe to deal with business taxes, Ireland is ranked in sixth place in the

overall global rankings behind the Maldives, Qatar, Hong Kong, the United Arab Emirates and Singapore. Ireland was ranked second in Europe

for the time it takes to comply with tax rules at just 76 hours, compared to an EU average time of 232 hours. According to the report, the time to

comply with tax requirements ranges from 212 hours a year on average in OECD high-income economies to 638 in Latin America.

 

The study also reveals that Ireland has the second lowest overall business tax rate in Europe at 26.5 per cent. The lowest was recorded in

Luxembourg at 21 per cent while the highest was in Italy where overall business taxes amount to 68 per cent. The most difficult countries to pay

business taxes in are Jamaica, Mauritania, the Gambia, Bolivia and Uzbekistan.