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Finance 23/11/2015 Uzbekistan takes 115th place in Total Tax Rate ranking
Uzbekistan takes 115th place in Total Tax Rate ranking
Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan claimed the 115th place in the Total Tax Rate ranking among 189 economies of the world. The ranking was published by the World Bank and PricewaterhouseCoopers.

TTR takes into account number of payments, time to comply (hours) and total tax burden to average enterprise, which does not use tax preferences. The fiscal burden is rated in percents.

Uzbekistan holds the 115th place in the ranking with the figure of 41.1% (average level is 40.8%). According to the ranking, businesses spend 193 hours to tax reports and should make 33 number of payments to pay taxes.

Kazakhstan took the 18th place, Azerbaijan – 34, Georgia – 40, Armenia – 41, Russia – 47, Belarus – 63, Ukraine – 107, Kyrgyzstan – 138 and Tajikistan – 172.

Qatar (11.3%) and the UAE (15.9%) topped the ranking. Saudi Arabia was third (15%). The US holds the 53rd place with the figure of 43.9%.

Venezuela (65%, 188th place) and Bolivia (83.7%, 189th place) were outsiders of the Total Tax Rate.

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