TMF Group, a provider of compliance and administrative services, has released its Global Business Complexity Index (GBCI), which analyzes the complexities of doing business across different jurisdictions. The report examines 78 jurisdictions based on various indicators related to legislation, compliance, accounting procedures, tax regimes, human resources, and payroll processes.
Key findings from the report include:
- Indonesia is ranked as the most complex jurisdiction in the Asia-Pacific region, followed by China, South Korea, Malaysia, and the Philippines.
- India has improved its ranking due to legislative reforms and regulatory changes.
- Hong Kong features among the ten least complex jurisdictions for the third consecutive year, attributed to efforts to simplify business processes and prioritize international alignment.
- The report highlights geopolitical and economic turbulence, global compliance challenges, and the increasing importance of Environmental, Social, and Governance (ESG) considerations as key themes shaping the global business landscape.
The GBCI provides insights into the complexities businesses face when operating in different countries, helping organizations make informed decisions and navigate regulatory environments effectively.
By FCCT Editorial Team
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