The biggest hell is in Belarusfollowed by Venezuela Y Argentina. Uruguay was the third best placed for Latin America, surpassed only by Chile and Costa Rica, and sharing position with countries such as Germany and Canada. The best score was taken Ireland.
The construction of this index considers among other variables: the Gross Domestic Product (GDP)tax rate on foreign companiesand institutional factors such as governance and language among others.
Being this its first edition, the foundation stipulated a percentage of the attributes for the construction of the final report (the quantitative variables would represent 60% of the score, while the qualitative variables the remaining 40%).
Quantitative measures can be based on public debt ratios, total taxes, as well as inflation, government spending and revenue. On the other hand the qualities objected could be: rule of law, political stability, control of corruption, accountability, among others.
The report highlights that the condition of fiscal hell does not depend only on the Pressure taxbut also of the institutional factors and qualities mentioned above, which must be suboptimal as a whole to be called the country as such.
In addition, factors that make asset protection were taken into account: quality in terms of laws, predictability in tax changes, and planning of future returns.
Source: Ambito
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