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A report ranks 94 jurisdictions on compliance issues.
Turkey Brazil Greece Argentina and China are among the top ten most complex jurisdictions in the world for accounting and tax compliance while the Cayman Islands Hong Kong and the United Arab Emirates (UAE) are the easiest. This is according to TMF Group’s inaugural Financial Complexity Index 2017.
It ranked 94 jurisdictions in Europe the Middle East Africa Asia Pacific and the Americas. The group used four weighted complexity parameters considering the accounting and tax rules and regulations in different jurisdictions and risks associated with non-compliance.
It found Turkey to be the most complex jurisdiction overall in which to stay financially compliant largely due to the requirement to report in the Turkish language and currency.
In southern Europe Italy and Greece have localised complexities. In Italy taxes are levied at national regional and municipal levels; while...
