Paying taxes: The Inland Revenue Board can step up efforts to reduce the time taken (currently at 188 hours) to prepare, file and pay taxes. This certainly helps to ease the loss of productivity and cost, according to Lee.
THE World Bank’s annual Doing Business report is not simply about how economies stack up against each other in terms of competitiveness as most will assume. In fact, the 11 indicators of the report sets out to do just one thing – capturing the effectiveness and quality of business regulation.
The data is then collated and presented in two aggregate measures, the distance to frontier score and the ease of doing business ranking. The distance-to-frontier score measures the distance of each economy to the so-called “frontier economy” or the best performing economy in each of the 11 indicators. The nearer an economy is to the “frontier economy”, the better the performance in that indicator.
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