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Thursday, 10th November 2016
Up one place in the latest World Bank Doing Business rankings of the world’s most attractive jurisdictions, Spain has shown a marked improvement in several key areas – including tax compliance, contract enforcement and resolving insolvency
The country’s economic and political challenges notwithstanding, Spain has recorded a positive performance in the 2017 World Bank Doing Business report, up one place in rankings of the world’s most business-friendly jurisdictions, from 33rd place to 32nd.
Now in its 14th year, the World Bank Doing Business report assesses regulations affecting domestic firms in 190 economies, ranking each on the basis of 11 criteria impacting the ease of doing business in any jurisdiction. Russell Bedford member firms have contributed to the report’s Paying Taxes survey since 2009, collating data on tax regulation, recent reforms and the comparative compliance burdens on entrepreneurs and businesses worldwide.
Spain shows a marked improvement in the report’s Paying Taxes survey, up eight places from 45th to 37th, as well as in the area of enforcing contracts (up seven places, from 36th to 29th), and in resolving insolvency, again up seven places, from 25th to 18th.
Gabriel Martínez, managing partner of Russell Bedford España Auditores y Consultores S.L., commented: “Much press attention in recent years has focussed on the economic and political challenges Spain is facing post-crisis. This year’s World Bank Doing Business report makes clear, however, that whatever the current situation, Spain is committed to remaining a viable destination for businesses worldwide.”