Singapore retains second place in 2019 World Bank Doing Business Report ranking

June 2019

Singapore has retained its position of second place for ease of doing business in this year’s World Bank Doing Business Report: Training for Reform, coming after New Zealand for the third straight year.

With an overall score of 85.24, Singapore ranked first for the ease of enforcing contracts, with Korea coming in second. In terms of the country’s ease of paying taxes, Singapore moved up one place to eight position since last year’s survey.

Now in its 17th 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, including Singapore member Steven Tan Russell Bedford PAC, 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.

Andrew Lim, managing partner of Russell Bedford member firm Steven Tan Russell Bedford PAC commented: "It is encouraging to see that Singapore continues to retain its top ten position in the areas of most immediate interest to investors - protecting shareholders' interests, enforcing contracts, and maintaining a tax-friendly business environment."

To access the full country report click HERE.