Financial Complexity And Non-Compliance The Key Worries In APAC

In a region housing some of the most financially-complex countries in the world, is it any wonder that non-compliance with local regulation was named the most concerning compliance trend in Asia Pacific?

This is, of course, according to TMF Group's inaugural Financial Complexity Index. The ranking of 94 jurisdictions across the world resulted in three top-10 spots for Asia Pacific: Vietnam ranked 5th most complex for compliance, followed by China at 7 and India at 10.

The Index also saw Hong Kong come in at 91 as the easiest place in APAC for compliance from an accounting and tax perspective; only the Cayman Islands, BVI and UAE were ranked less complex for business across the world.