India is one of the several APAC countries that are
implementing global Accounting and Tax standards and practices that
will further boost its credentials as one of the easiest places to
do business globally according to research by the TMF group, a
leading provider of international administrative
services.
The Global Business Complexity Index - Accounting and Tax
analyses the key accounting and tax practices and trends across 76
jurisdictions worldwide. The report found that India continues to
make strides to counter and minimise corruption and fraud by
implementing rigorous accounting measures such as penalties,
suspension of activities and even imprisonment. In efforts to
continue to create a positive business environment, it is also one
of the few countries in the world along with Hong Kong, Thailand
and Malaysia (17%) that calls for mandatory audits.
