Romania ranks 54th in a global ranking for financial and accounting complexity, according to data the TMF Group published yesterday.

Turkey ranks first and is considered to have the most difficult tax environment. This means that Turkey is the most complex place in the world in terms of the ability of companies to comply with accounting and taxation.

The Cayman Islands have the most relaxed fiscal environment (94th place).

Countries like the Netherlands, Costa Rica, Lebanon, Ireland, Malaysia or the Czech Republic have more relaxed fiscal environments compared to Romania. On the other side, the tax environments of South Korea, Nicaragua, Peru and Russia are more strained than in Romania.

The ranking includes 94 jurisdictions in Europe, Middle East, Africa, Asia Pacific and the Americas.

editor@romania-insider.com