Czech Republic slips down Doing Business rankings

The Czech Republic has slipped down the World Bank’s Doing Business rankings for 2009. Last year, the Czech Republic ranked 65th in the list of 181 countries, this year it has fallen to 75th place. Above the Czechs rank countries such as Slovakia, Turkey, Kazakhstan and Georgia. The list was compiled based on research conducted between June 2007 and June 2008. The Czech Republic ranked particularly badly when it came to the ‘paying taxes’ section of the survey. The study found that filling out various taxation documents took businesses in the Czech Republic 930 hours a year.