TORONTO - Forbes ranked Canada as the best country for business on Tuesday, moving up from fourth spot last year, helped by a lower overall tax burden.
"While the U.S. is paralysed by fears of a double-dip recession and Europe struggles with sovereign debt issues, Canada’s economy has held up better than most," the influential U.S. business magazine wrote
The magazine said the improvement was in part because of the introduction of the harmonized sales tax last year in Ontario and British Columbia. Forbes also cited lower corporate and employee tax rates for helping business.
