The latest World Bank report, Paying Taxes 2015, produced by PwC focuses on tax payments for a two-year old start-up SME, based on analysis of tax compliance and corporate tax rates in 189 countries.

The figures exclude most Crown dependencies such as the Cayman Islands, British Virgin Islands and Bermuda, however, certain countries have joined the survey by request including Luxembourg, San Marino and Gibraltar. The criteria for participating countries initially required a minimum population of 1.5m.