Guest Contributor · · 4 min readCountries that tax your company to death — and those that don’t
Entrepreneurs residing in Singapore and Hong Kong experience no burdensome taxes, according to a paper published by Grant Thornton.
Titled Grant Thornton International Business Report 2010, the paper sought the perceptions of owners and directors of PHBs (privately held businesses) on the issue of tax in their respective country.
The global study, which covered 36 key economies worldwide, found entrepreneurs residing in Singapore and Hong Kong are among the most satisfied with their country’s tax system. Entrepreneurs interviewed from the remaining economies felt burdened by at least one category of taxation in their country.
Most burdensome taxes by economy
53 and 38 percent of entrepreneurs cited Hong Kong and Singapore respectively as having no burdensome taxes.
| Business profits | Personal income taxes | Employment related taxes | Indirect taxes | No burdensome taxes |
| Japan (46%) | Denmark (60%) | Belgium (74%) | Argentina (53%) | Hong Kong (53%) |
| Vietnam (41%) | Finland (54%) | Poland (65%) | Thailand (42%) | Singapore (38%) |
| Mainland China (34%) | New Zealand (38%) | Sweden (52%) | Mexico (41%) | |
| Malaysia (32%) | Netherlands (37%) | France (52%) | Taiwan (37%) | |
| Greece (31%) | Canada (37%) | Brazil (45%) | Botswana (36%) | |
| Italy (23%) | United States (36%) | Australia (42%) | Chile (31%) | |
| South Africa (31%) | Germany (39%) | India (29%) | ||
| Chile (31%) | Ireland (39%) | Armenia (27%) |
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