In Doing Business report Latvia went up by 10 positions, Lithuania and Estonia lost advantage
In World Bank’s Doing Business report 2012 Latvia moved up from the 31 to 21 place and passed by the neighboring Baltic countries. Estonia moved down from 18 to 24 position, Lithuania – from 25 to 27.
Latvia made starting a business easier by reducing the minimum capital requirement and introducing a common application for value added tax and company registration, noted the report in its summary.
Latvia also made getting electricity faster by introducing a simplified process for approval of external connection designs
In Estonia a municipal sales tax introduced in Tallinn made paying taxes costlier for firms, though a later parliamentary measure abolished local sales taxes effective January 1, 2012.
Lithuania made getting electricity more difficult by abolishing the one-stop shop for obtaining technical conditions for utility services.
Lithuania strengthened investor protections by introducing greater requirements for corporate disclosure to the public and in the annual report.
Lithuania amended its reorganization law to simplify and shorten reorganization proceedings, grant priority to secured creditors and introduce professional requirements for insolvency administrators.
Doing Business 2012: Doing Business in a More Transparent World assesses regulations affecting domestic firms in 183 economies and ranks the economies in 10 areas of business regulation, such as starting a business, resolving insolvency and trading across borders. This year’s report data cover regulations measured from June 2010 through May 2011. The report rankings on ease of doing business have expanded to include indicators on getting electricity. The report finds that getting an electrical connection is most efficient in Iceland; Germany; Taiwan, China; Hong Kong SAR, China; and Singapore.
Key findings
— Morocco improved its business regulation the most compared to other global economies, climbing 21 places to 94, by simplifying the construction permitting process, easing the administrative burden of tax compliance, and providing greater protections to minority shareholders. Since 2005, Morocco has implemented 15 business regulatory reforms.— Besides Morocco, 11 other economies are recognized as having the most improved ease of doing business across several areas of regulation as measured by the report: the former Yugoslav Republic of Macedonia, São Tomé and Príncipe, Latvia, Cape Verde, Sierra Leone, Burundi, the Solomon Islands, the Republic of Korea, Armenia, and Colombia.
— The Republic of Korea was a new entrant to the top 10.
— Governments in 125 economies out of 183 measured implemented a total of 245 business regulatory reforms—13 percent more reforms than in the previous year. In Sub-Saharan Africa, a record 36 out of 46 economies improved business regulations this year. Over the past six years, 163 economies have made their regulatory environment more business-friendly. China, India, and the Russian Federation are among the 30 economies that improved the most over time. Read about reforms.
— Singapore led on the overall ease of doing business, followed by Hong Kong SAR, China; New Zealand; the United States; and Denmark.
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