By World Bank
Doing company 2007 makes a speciality of reforms, identifies most sensible reformers in company law, and most sensible practices in tips on how to reform. This quantity is the fourth in a sequence of annual studies investigating worldwide rules that increase enterprise job and people who constrain it. Co-sponsored through the realm financial institution and the foreign Finance Corporation--the deepest region arm of the area financial institution Group--this year's document measures quantitative symptoms on company rules and their enforcement in comparison throughout one hundred seventy five countries--from Afghanistan to Zimbabwe--and through the years. Doing enterprise 2007 updates signs built within the 3 previous studies. the 10 symptoms are: beginning a company, facing licenses, hiring and firing, registering estate, getting credits, holding traders, buying and selling throughout borders, paying taxes, imposing contracts, and shutting a enterprise. the symptoms are used to examine fiscal and social results, akin to informality, corruption, unemployment, and poverty. This each year released file supplies policymakers the power to degree regulatory functionality compared to different nations, study from most sensible practices globally, and prioritize reforms. This year's file covers 20 extra nations.
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Extra resources for Doing Business 2007: How to Reform (Doing Business)
2 Most reforms were in Eastern Europe and Latin America Share of positive reforms Depth of credit information index (0–6) Sub-Saharan Africa South Asia Middle East & North Africa Eastern Europe & Central Asia OECD high income East Asia & Pacific Latin America & Caribbean Source: Doing Business database. years; in Lithuania, for 7 years; in Poland, for 5. Governments in the Middle East and North Africa increased their support for the establishment of private credit bureaus. Egypt’s central bank revised the banking secrecy law to allow the opening of the country’s first private bureau.
For example, most countries have more than one labor tax, yet such taxes are typically based on gross salaries. Why not unify them? Tax offices can then distribute the revenues among government agencies. Slovakia did just that: its single social contribution tax funds health insurance, sickness insurance, old age pensions, disability insurance, unemployment benefits, injury insurance, guarantee insurance and reserve fund contributions. In many countries social security agencies would be reluctant to part with their powers—especially if there is a chance that tax offices won’t give them their share of revenues.
France is doing just that. Until 2005 France operated local collateral registries that specialized in pledges over shares, bank accounts, receivables or equipment. If a creditor in Paris needed to check information on a borrower from Lyon, a trip was required. With recent reforms, this is changing. Other rich countries also need reform: Austria, Germany and Switzerland lack unified collateral registries. Another 32 countries require multiple registrations, including Cameroon, Colombia and Ecuador.