World Bank Doing Business 2017 Report: Malaysia, on the 23rd Place
Updated on Saturday 12th November 2016
Malaysia recorded better scores in the 2017 report in the “getting credit” and “paying taxes” categories. These two aspects have been ranked as essential by experts. In Malaysia, tax compliance is lighter on the investors compared to other countries in the East Asia and Pacific region. The effective time spent for paying taxes is lower and so are the number of mandatory payments per year.
Malaysia managed to receive a better score in the “paying taxes” category due to its newly introduced online system for paying the goods and services tax. Companies in Malaysia take advantage of this measure because the effective number of mandatory payments has been reduced.
Our lawyers in Malaysia can give you more information on the taxation laws and the changes that have been implemented.
Malaysia received the 23rd place on the overall rank for doing business. The country managed to remain ahead of other large countries such as China (78th) or Thailand (46th) or the Netherlands (28th). Malaysia also received good scores in the “getting energy” index and the “reliability of supply and transparency of tariffs” index.
The Doing Business Report is a yearly publication issued by the World Bank Group. The results of the reports target key areas for doing business in a total number of 190 economies worldwide. In total, a number of 11 areas are examined and ranked according to performance, from various business regulations to property rights protection.
Special laws and regulations in Malaysia can be discussed with the help of an expert. At our law office in Malaysia, we provide investors with legal advice and counseling in all areas of law.
Malaysia has been ranked 23rd out of the total 190 economies analyzed in the World Bank Doing Business Report. The country managed to remain in a good position due to its continuous efforts to improve the business climate, both for local business owners and for foreign investors. The Malaysian authorities have been implementing a set of measures during the last year which contributed to the improvement of the country’s credit reporting. Our attorneys in Malaysia can give you additional information on these measures and the general business climate in the country.
Improvements made during the past year
Malaysia recorded better scores in the 2017 report in the “getting credit” and “paying taxes” categories. These two aspects have been ranked as essential by experts. In Malaysia, tax compliance is lighter on the investors compared to other countries in the East Asia and Pacific region. The effective time spent for paying taxes is lower and so are the number of mandatory payments per year.
Malaysia managed to receive a better score in the “paying taxes” category due to its newly introduced online system for paying the goods and services tax. Companies in Malaysia take advantage of this measure because the effective number of mandatory payments has been reduced.
Our lawyers in Malaysia can give you more information on the taxation laws and the changes that have been implemented.
Doing business in Malaysia
Malaysia received the 23rd place on the overall rank for doing business. The country managed to remain ahead of other large countries such as China (78th) or Thailand (46th) or the Netherlands (28th). Malaysia also received good scores in the “getting energy” index and the “reliability of supply and transparency of tariffs” index.
The Doing Business Report is a yearly publication issued by the World Bank Group. The results of the reports target key areas for doing business in a total number of 190 economies worldwide. In total, a number of 11 areas are examined and ranked according to performance, from various business regulations to property rights protection.
Special laws and regulations in Malaysia can be discussed with the help of an expert. At our law office in Malaysia, we provide investors with legal advice and counseling in all areas of law.