| Recent KPMG research, among more than 400 tax professionals from the companies throughout Europe, has shown that the tax order of Cyprus was declared the most attractive in Europe.
Next in top three of most favourable jurisdictions are Ireland and Switzerland, then comes Malta, Estonia and Finland while Greece was declared as the country with most unfavourable tax order in the Europe.
However, most favourable tax order does not necessarily mean only lowest tax rates. Among most important factors explicitness and stability of the tax legislation was mentioned. KPMG notes, that unlike bigger European countries, the small ones strive to create simple and effective tax system for attraction of investments. | 
