Closing a Business
The time and cost required to resolve bankruptcies. In India, the process takes 10 years and costs 9% of the estate value. The recovery rate, expressed in terms of how many cents on the dollar claimants recover from the insolvent firm, is 12.82
Let us make a comparative study of three indicators, Starting a Business, Hiring and Firing Workers and Paying Taxes in India with China, Japan, Pakistan and USA, as per the report.
Country | Starting a Business | |||
|---|---|---|---|---|
Procedures (number) | Time (days) | Cost (% of income per capita) | Min. capital (% of income per capita) | |
AVERAGE | 10 | 35 | 21.0 | 204.4 |
China | 13 | 48 | 13.6 | 946.7 |
India | 11 | 71 | 61.7 | 0.0 |
Japan | 11 | 31 | 10.7 | 75.3 |
Pakistan | 11 | 24 | 18.6 | 0.0 |
United States | 5 | 5 | 0.5 | 0.0 |
Country | Hiring and Firing Workers | |||||
|---|---|---|---|---|---|---|
Difficulty of Hiring Index | Rigidity of Hours Index | Difficulty of Firing Index | Rigidity of Employment Index | Hiring cost (% of salary) | Firing costs (weeks of wages) | |
AVERAGE | 30 | 32 | 34 | 32 | 15.1 | 56.0 |
China | 11 | 40 | 40 | 30 | 30.0 | 90.0 |
India | 56 | 40 | 90 | 62 | 12.3 | 79.0 |
Japan | 17 | 40 | 0 | 19 | 12.7 | 21.2 |
Pakistan | 67 | 40 | 30 | 46 | 12.0 | 90.0 |
United States | 0 | 0 | 10 | 3 | 8.5 | 0.0 |
Country | Paying Taxes | ||
|---|---|---|---|
Payments (number) | Time (hours) | Total tax payable (% gross profit) | |
AVERAGE | 32 | 409 | 40.7 |
China | 34 | 584 | 46.9 |
India | 59 | 264 | 43.2 |
Japan | 26 | 315 | 34.6 |
Pakistan | 32 | 560 | 57.4 |
United States | 9 | 325 | 21.5 |
What are the Indian Communists complaining about?
Until tomorrow with more DDT
Have a nice day.
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