On average, a medium-sized company has a total tax rate of 40.9% of commercial profits, makes 25.9 tax payments per year and takes 264 hours to comply with its tax requirements, according to the Paying Taxes 2015 report. The report measures all mandatory taxes and contributions that a medium-size company must pay in a given year.
Over the 10 years ot the study, tax-compliance time has fallen by a total of nearly a week and a half. During that same time, of 314 reforms making it easier or less costly to pay taxes, 88 included introduction or improvement of online filing and payment systems.
“Rolling out new information and communication technologies for filing and paying taxes and then educating taxpayers and tax officials in their use are not easy tasks for government,” the report says. “But electronic tax systems, if implemented well and used by most taxpayers, benefit both tax authorities and firms.”
By 2012, 76 economies had fully implemented electronic tax systems, according to the World Bank Group.
“The latest results from the Paying Taxes study show many economies are continuing to make progress in tax reform, but there is still a lot of scope to streamline and simplify tax systems,” PwC’s Andrew Packman said in a news release.
Since the Paying Taxes 2012 report, the average global tax rate has fallen 2.2%, entirely due to a reduction in taxes identified as “other/consumption.” This year’s report found that companies have on average a profit tax rate of 16.3%, a labor tax rate of 16.2% and an other/consumption tax rate of 8.4%.
“Compared to last year the profit tax element of the time to comply [indicator] has remained static, while labor taxes and consumption taxes have driven the reduction in time, each falling by two hours on average,” the report says.
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