Thursday, September 24, 2009
The authorities Government and Worldbank etc are making much of Timor-Leste's new tax regime and ease of obtaining a construction permit (despite no land law...).
However, Timor-Leste is still at the bottom of the list for "enforcing contracts", as their is litttle rule of law in Timor, one might surmise. It will also cost the plaintiff 163% of the total amount claimed in order to get one's money when a contract is breached. So if you want 100 bucks back, you need to pay 163 bucks in order to get it - if you ever will. Make sense? Not really. And that is only after jumping 51 procedures over the course of 1,400 days of legal battles - that is about 3.5 years....
Read the full report here and make up your own mind.