RSS
'Doing Business 2015': Romania, the 48th place among 189 countries
Romania holds this year the 48th place among 189 countries in the 'Doing Business 2015' rankings drawn up by the World Bank, with a total score of 70.22 points.
The report by the international financial institution analyzes as many as 189 economies based on 11 criteria such as starting a business, taking out a loan, access to the electricity supply and cross-border transactions. The report does not cover areas such as security, macroeconomic stability or corruption. The World Bank states that this year's report uses new data and methodologies in three areas: insolvency settlement, protection of minority shareholders and obtaining credit.
Last year, Romania ranked 50th in this hierarchy, by 70.22 points, but the World Bank has modified the drawing up methodology of the report. Thus, according to representatives of the institution, a comparison between the current document and the previous one cannot be made.
'We want people to be aware that this is a different report and that we measure new areas which we have not measured before. Doing Business refers largely to the effectiveness of regulations, how fast, how cheap and how easy it is to complete a transaction. But now we begin to measure also the quality of regulations. For this reason, this year's report cannot be compared directly with that of last year,' said Rita Ramalho, in charge of the Doing Business project.
According of the 12th edition of the report, 'Doing Business 2015,' drawn up by the World Bank and released in Washington, Romania recorded the most significant improvement in facilities for tax payment in the years 2013/2014.
The Government has developed an electronic system for filing and paying taxes, according to the indicators in the report 'Doing Business.' The system was launched in 2010 but in the past two years the online payment of taxes and contributions has become possible by using bank cards and has been gradually adopted by the business community. Until January 2013, most companies paid their taxes online.
As to starting up a business, Romania ranked 38th out of 189 countries, by 22 places higher than in 2013. According to the indicators in the report 'Doing Business,' in Romania it takes eight days and the finalization of five procedures to start up a business.
The cited report shows that in 2013/2014 as many as 31 reforms were adopted globally through which the payment of taxes by companies becomes easier or less expensive. The highest number - nine reforms - is recorded in Europe and Central Asia, and the most significant reform is the introduction or improvement of electronic systems for filing and paying taxes. Some 13 states have implemented such changes, including Romania, Azerbaijan, Belarus, Moldova, Mongolia, Tajikistan and Ukraine, reads the document released by the World Bank.
Out of the 189 countries analyzed by the World Bank, Singapore occupies the first position in the hierarchy of states where it is easiest to do business, followed by New Zealand and Hong Kong. In Europe, the highest-ranking countries are Denmark (at No. 4), Norway (No. 6), United Kingdom (No. 8), Finland (No. 9), Sweden (No. 11), Iceland (No. 12), Ireland (No. 13) and Germany (No. 14). The last in the rankings are three African countries (Eritrea, Libya and Central African Republic).
In the last year, governments worldwide have continued to implement comprehensive reforms aimed to improve regulations for local entrepreneurs. The economies that have improved their efficiency and regulatory procedures and have strengthened their legal institutions that support enterprises and trade are better prepared to boost growth and development, reads the World Bank report.