Baku, Azerbaijan, Oct.29
By Azad Hasanli - Trend:
Azerbaijan entered the top 20 countries on the ease of starting business in the annual ranking of Doing Business-2015 of the World Bank and the International Finance Corporation, said the report posted Oct.29 on the official website of Doing Business.
Azerbaijan took the 12th place among the 189 countries covered by the rating according to this index, leaving behind such countries as China (128th), Austria (101st), Belgium (14th), Brazil (167th), Croatia (88th), Czech Republic (110th), and others.
"Azerbaijan has made the process of starting business easier by reducing the time to obtain an electronic signature for online registration of the tax accounting," the report said.
It is also noted that Azerbaijan is among the ten countries on the greatest number of reforms. Azerbaijan has implemented reforms in the area of starting business, registration of property and payment of taxes.
Compared with last year's results, Azerbaijan achieved the greatest success on such subheadings as the payment of taxes (33rd versus 77th a year ago), dealing with construction permits (150th against 180th) and connection to the electricity system (159th against 181st).
"Azerbaijan has simplified the transfer of the immovable property to the ownership by introducing an electronic system for help on charge," said the statement. "In addition, the country has simplified payment of taxes for companies by introducing an electronic system of registration and payment of social insurance contributions."
In general, Azerbaijan is ranked 80th.
Azerbaijan's ranking consists of the following indices: establishing enterprise business - 12th, tax payment - 33rd, international trade - 166th, registration of ownership - 10th, obtaining construction permits - 150th, lending - 104th, insolvency settlement - 94th, contract enforcement - 31st, protection of investors' rights - 51st, connection to the power supply system - 159th.
Singapore is in the lead of the world ranking on creating the most favorable conditions for business. Besides it, the top ten countries include New Zealand, Hong Kong, Denmark, Korea, Norway, US, Great Britain, Finland, Australia.
Among the post-Soviet countries Georgia (15th), followed by Estonia (17th), Latvia (23rd), Lithuania (24th), Belarus (57th), Russia (62nd), Moldova (63rd), Kazakhstan (77th) keep leading positions. Azerbaijan is followed by Ukraine (96th), Kyrgyzstan (102nd), Uzbekistan (141st) and Tajikistan (166th).