03 Jun 2008
Finance professionals regard UK’s tax system as less fair and less transparent than other tax regimes around the world, a newly released international study by the Association of Chartered Certified Accountants (ACCA) reveals.
The report, Perspectives on Fair Tax, surveyed ACCA members in Australia, Canada, Hong Kong, Singapore, the UK and USA, asking for opinions on tax fairness, complexity, transparency, and how well tax authorities communicate with their citizens, Tax-News.com reports.
The study found members in Singapore and Hong Kong viewed their tax system positively, believing it to be fair and simple, while UK, Australian and Canadian members said their regimes were ‘less fair’ and ‘somewhat complex’.
Professor Francis Chittenden, ACCA Professor of Small Business Finance at Manchester Business School, who co-authoried the report with colleague Hilary Foster, noted governments needed to reduce the volume of laws, directives and regulations which contributed most to complexity.
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