The PwC/World Bank Group Paying Taxes 2018 report ranked Ireland as the most effective country in the EU for paying business taxes.

In order, the top 10 rankings for the EU countries on ease of paying taxes are: Ireland, Denmark, Finland, Latvia, Estonia, Lithuania, Switzerland, Netherlands, Luxembourg and the UK.

Ireland was also found to be the fourth most effective country for paying taxes worldwide, a figure up from 5th place globally last year.

The top 10 worldwide economies for ease of paying taxes are, in order: Qatar and United Arab Emirates (Joint First), Hong Kong, Ireland, Bahrain, Kuwait, Singapore, Denmark, New Zealand and Mauritius.

The report confirms that Ireland is an attractive location in which to establish business and that Ireland performs strongly on tax contribution rate and compliance metrics, having a very competitive tax system in terms of cost and time.

Joe Tynan, Head of Tax at PwC said:

“While many countries such as the US and the UK are taking steps to reduce their corporate tax rate, Ireland will still compare very well. International companies will continue to look for sustainable tax models and Ireland has just that. We need to continue to work with the OECD to ensure that we continue to be recognised as having a corporate tax system that is fit for purpose and at the forefront of global standards.”