Reforms in OECD Countries, 2007-08
Read about reforms in 2008-09Read about reforms in 2006-07
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Australia
In Australia no major reforms were recorded.Austria
Austria sped-up contract enforcement by introducing comprehensive electronic filing of court claims and correspondence between lawyers and the court in civil matters.Areas of Reform: Enforcing Contracts
Belgium
Belgium simplified contract enforcement by establishing fixed procedural calendars for written pleadings and introducing tighter deadlines for the delivery of expert opinions.Areas of Reform: Enforcing Contracts
Canada
Canada made it possible to start a business by going on-line and completing 1 simple procedure. It also reduced the corporate income tax rate, abolished the surtax of 1.12% and increased the depreciation rate for various assets.Areas of Reform: Starting a Business, Paying Taxes
Czech Republic
Czech Republic passed an Insolvency Act which introduces reorganization as the preferred method for resolving insolvency, mandates stricter deadlines, establishes an electronic insolvency register and sets new qualification standards for trustees. Czech Republic has also made amendments to the labor law by introducing flexibility in the areas of overtime, probationary period and working hours. Lastly, the “Project Czech Point” where multiple registration-related documents could be obtained at one place made it simpler to register a company. As a result, 3 procedures were merged into one and the number of days required for business start-up were reduced by 2.Areas of Reform: Starting a Business, Employing Workers, Paying Taxes, Closing a Business
Denmark
Denmark reduced the corporate income tax rate from 28% to 25%.Areas of Reform: Paying Taxes
Finland
Finland revised its Restructuring of Enterprises Act making it easier for companies in distress to reorganize. It also consolidated regulations relating to the provision of credit information into a single law.Areas of Reform: Getting Credit-Information, Closing a Business
France
France made electronic filing mandatory for social security contributions above €800,000. It also made customs clearance easier by introducing electronic filing and eliminating certain documents.Areas of Reform: Paying Taxes, Trading across Borders
Germany
Germany made it easier for companies in distress to restructure by allowing the court to suspend enforcement against assets essential to the continuation of the business with the aim of keeping the company working as a going concern. It also reduced the corporate income tax from 25% to 15%, introduced straight-line depreciation for fixed assets and reduced trade tax while no longer allowing a deduction of the tax for corporate income tax.Areas of Reform: Paying Taxes, Closing a Business
Greece
Greece cut the minimum capital requirement to start a business by 80%, reduced capital tax and made publication of company statutes quicker. It also introduced electronic payment of social security tax, and passed a new bankruptcy law that is expected to allow more companies in distress to emerge as going concerns. Finally, Greece strengthened director accountability by making it easier for shareholders to sue directors for damages caused by related-party transactions.Areas of Reform: Starting a Business, Protecting Investors, Paying Taxes, Closing a Business
Hungary
Hungary cut the time required to register property from 63 to 17 days by opening a new property registration office in Budapest and increasing cooperation among government agencies. It also reduced the minimum capital requirement to start a business by around 80%, introduced online filing and made the use of notaries optional.Areas of Reform: Starting a Business, Registering Property
Iceland
In Iceland no major reforms were recorded.Ireland
In Ireland no major reforms were recorded.Italy
Italy simplified business registration and reduced the corporate income tax rate from 33% to 27.5% in addition to reducing the social security tax rates. A business can now be started through a single electronic filing. Italy made dismissing workers more difficult, increasing the mandatory notice period from 2 weeks to 2.5 months.Areas of Reform: Starting a Business, Paying Taxes, Employing Workers (making it more difficult)
Japan
In Japan no major reforms were recorded.Republic of Korea
The Republic of Korea Customs Service is realizing a U-customs system that is an internet based system customs portal, which provides for an International Single Window. Korea made hiring more difficult by limiting the maximum duration of fixed-term contracts to 24 months.Areas of Reform: Trading across Borders, Employing Workers (making it more difficult)
Luxembourg
In Luxembourg no major reforms were recorded.The Netherlands
In the Netherlands no major reforms were recorded.New Zealand
In New Zealand business start up process can now be completed in one simple online registration in less than a day. New Zealand reduced the corporate income tax rate from 33% to 30%. It also introduced a reorganization procedure that should make it easier for companies in distress to emerge as going concerns.Areas of Reform: Starting a Business, Paying Taxes, Closing a Business
Norway
In Norway no major reforms were recorded.Portugal
Portugal reformed its bankruptcy laws, eliminating the need to publish insolvency notices in newspapers, introducing fast-track procedures for small debtors and limiting procedural appeals. It also introduced an on-line application for construction permits, and facilitated debt collection for contract enforcement by extending the use summary proceedings for lower amounts.Areas of Reform: Dealing with Construction Permits, Enforcing Contracts, Closing a Business
Slovakia
Slovakia created a one-stop shop for company registration merging 4 procedures into 1, and reduced cost and time for business start-up by 9 days.Areas of Reform: Starting a Business
Spain
In Spain no major reforms were recorded.Sweden
Sweden made it more difficult to hire new workers, by decreasing flexibility in the use of fixed term contracts, limiting their maximum duration from 36 to 24 months.Areas of Reform: Employing Workers (making it more difficult)
Switzerland
Switzerland doubled the minimum capital requirement for starting a business from 10,000 to 20,000 SFR making it harder for new companies to start up.Areas of Reform: Starting a Business (making it more difficult)
United Kingdom
The United Kingdom made work scheduling more rigid by increasing mandatory paid annual leave from 20 to 24 working days.Areas of Reform: Employing Workers (making it more difficult)