This indicator measures the annual hours required for businesses to meet their tax obligations, encompassing the preparation, filing, and payment processes for three significant tax categories: corporate income tax, value-added or sales tax, and various labor taxes, which include payroll taxes and social security contributions. By capturing the cumulative time investment necessary for tax compliance, this metric highlights the administrative burden that taxation places on companies. It serves not only as a reflection of regulatory complexity but also as a catalyst for companies to streamline their financial practices and adopt technology solutions aimed at efficiency. Furthermore, understanding this time commitment can inform policymakers on how to enhance tax systems to foster a more conducive environment for business operations. Source: