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Latvia climbs two spots in Doing Business 2008 survey
According to the World Bank’s annual “Doing Business” survey (www.doingbusiness.org), Latvia has climbed two spots and now ranks 22nd in the world in terms of the ease of doing business. Singapore, New Zealand and U.S. took the first three spots.
Over the past year Latvia has substantially improved in employee wages (123rd to 96th position), cross-border trade (28th to 19th) and in the taxation section (52nd to 20th). Just seven procedures a year need to be taken to pay taxes in Latvia which is one of the best indicators in the world, reported the World Bank.
In addition, Latvia ranks 3rd in the world in terms of enforcing contracts. In order to achieve contract enforcement, 27 procedures have to be conducted which requires 279 days and costs 12,9% of the claim. According to the same survey 16 days are required to start doing business in Latvia.
