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India Ranks Sixth as Worst Country for Business
2. Ukraine
The second largest country in Europe stands second in the list of worst countries to do business too. The country’s GDP in the year 2010 was $137.9 billion and the FDI is worth 6.5 billion. Ever since the country got freedom from Russia, it is expecting to incorporate with Western Europe and merging with Russia as they provide most of the country’s energy needs. Even Ukraine has strict tax payment formalities, construction authorizations and electricity access. The business in Ukraine takes 27 days to pay taxes. The 57 percent of the business profits are to be paid as taxes so hardly people get money for their living. For the construction permit, the country takes twice over the number of days when compared to OECD countries. The political issues are also one of the major reasons. The orange revolution where Viktor Yanukovych supported the reconciliation with Russia resulted to the mass protest. The political wrangling in Ukraine is always in news.
