Paying Taxes
This topic addresses the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year, as well as measures of administrative burden in paying taxes.The table below shows the main indicators. They include:
- total number of tax payments per year
- time it takes to prepare, file and pay (or withhold) the corporate income tax, the value added tax and social security contributions (in hours per year)
- amount of taxes on profits paid by the business as a percentage of commercial profits
- amount of taxes and mandatory contributions on labor paid by the business as a percentage of commercial profits. This amount include mandatory social security contributions paid by the employer both to public and private entities, as well as other taxes or contributions related to employing workers.
- amount of taxes and mandatory contributions paid by the business that are not already included in the previous 2 categories
- total amount of taxes and mandatory contributions payable by the business
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