Belgium less favourable for business

6th September 2006, Comments 0 comments

6 September 2006, BRUSSELS — Belgium has slipped in the rankings of nations in a World Bank study examining favourable business climates.

6 September 2006

BRUSSELS — Belgium has slipped in the rankings of nations in a World Bank study examining favourable business climates.

Conducting business became easier in a large number of countries last year, primarily in the former Eastern Bloc nations, Asia and also Africa, where progress even topped other regions.

But Belgium did not perform as well and is now ranked behind countries such as Estonia, Lithuania, Thailand and Puerto Rico, newspaper 'De Standaard' reported on Wednesday.

On the other side, Belgium is performing better than the Netherlands, France and Germany in establishing a favourable climate for new businesses.
 
Despite efforts such as the abolition of registration fees for the establishment of a new business, Belgium has fallen in the past two years from 16th to 20th in World Bank rankings.

Belgium scored well as one of the lands where bankruptcies are efficiently regulated and where companies can be closed with few problems. Investors also benefit from good legal protection.

But company tax rates which claim on average 70 percent of a firm's profits are a negative factor. The average in the 30 OECD nations is 45 percent.

[Copyright Expatica News 2006]

Subject: Belgian news

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