Turkey improves standing in Ease of Doing Business index
27.09.2007
Turkey ranked 57th among 178 countries on the Ease of Doing Business Index, the World Bank's annual "Doing Business 2008" report said yesterday. Singapore nabbed the index's top spot as the world's easiest place to do business, followed by New Zealand and the United States. Last year, Turkey slid from 84th to 91st on the same index. This year's jump is related to a reduction in the corporate taxation and introduction of the new Corporate Tax Law, according to the report, which clarifies the details of the index's rankings. Turkey cut back its Corporate Tax rate to 20 percent last year. Declining business establishment costs and cuts to tax payment duration also had their hand in the climb.