Two notches up But doing business in BD still horrendous: WB


The country’s doing business index slightly improved by two notches in two areas out of 10 but in the remaining areas there is hardly any improvement and even the index declines in some calling for more decisive action for a breakthrough.
In the World Bank report released on last Tuesday showed Bangladesh’s ranking
stands at 176 among 190 economies. It only showed improvements in the parameters of resolving insolvency and registering property. Tax system Cialis women is more complicated cialis from canada here making doing business here difficult.
Among eight countries of South Asia, Bangladesh is only online pharmacy order ahead of Afghanistan that ranked 183 in the “Doing Business 2017: Equal Opportunity for All” report released on Tuesday.
Bhutan was the best in the region at 73, followed by Nepal, 107, Sri Lanka, 110, India, 130, the Maldives, 135, and Pakistan, 144. Bangladesh’s distance to frontier (DTF) score, which is used for making the rankings, adderall online pharmacy was 40.84 percent, slightly up from 40.68 percent of the previous report.
In terms of East Asia competitors, Bangladesh did not do so well on the overall doing business ranking and on the DTF score. It has the lowest ranking when compared to Thailand, China, Vietnam, the Philippines, Indonesia and Cambodia.
The bottom line appears to be that regulatory reforms in Bangladesh are not making ostensible progress. World Bank lead economist Zahid Hussain said.
He said Bangladesh remains behind its competitors in South and East Asia, although on a few indicators it is ahead relative to some of the peers in the regions.
“Reform inertia relative to peers, rather than slippage is the main reason, he blamed for the poor ranking and low marks because of poor regularity quality.
Every year the WB’s Doing Business report sheds light on how easy or difficult it is
for a local entrepreneur to open and run a small to medium-size business when complying with relevant regulations.
The report tracks changes in regulations affecting 10 areas in the life cycle of
a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.
Bangladesh’s grade slightly advanced on two indicators — moving up by one
spot, 185, on registering property and two places, 151, on resolving insolvency — relative hospital pharmacy jobs in canada to the revised ranking of 2016.
Even though the country’s DTF score improved on starting a business, 0.02 percentage points, the ranking dropped by seven places to 122.
The DTF score improved on getting electricity, 0.95 percentage points, and dealing with construction permits, 0.35 percentage points, but the ranking remained unchanged to
187 and 138 in both cases respectively.
Bangladesh’s ranking and DTF score remained unchanged in: trading across
borders, 173, and enforcing contracts, 189. Bangladesh made the worst performance in the parameter of paying taxes, as the country’s DTF score declined by 0.51 percentage points and the rank by three places, 151.
The changes made it more difficult to do business in the country, it said.
The country also lost its position by five places to 157 in getting credit and one place to 70 in protecting minority investors.
Taxpaying system has turned complicated and time-consuming, Cialis women the report said. Bangladesh made paying taxes more complicated for companies by increasing the time it takes to prepare VAT and corporate income tax returns.
The changes made it more difficult to do business in the country, said the report, which was released on Tuesday. Of the 10 parameters studied in the report, Bangladesh performed the worst in the paying taxes one.
It takes 435 hours or more than 18 days and requires 33 payments in a year to pay all types of taxes including VAT, income tax and corporate tax.
But economies around the world have made paying taxes faster, easier and less costly for businesses — by offering electronic systems for filing and payment, establishing taxpayer service centres or allowing for more deductions and exemptions.
Source : Holiday