UK’s tax system seen as less fair than other regimes
An ACCA international study finds finance professionals regard UK’s tax system as less fair than other tax regimes
An ACCA international study finds finance professionals regard UK’s tax system as less fair than other tax regimes
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.
Further reading:
The numbers you crunch tell a story. Your expertis...
16yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe ICAEW cited managing insurance costs, firms struggling to obtain coverage, assessing risk-taking capacity, and evolved firm structures as drivers ...
View articleThe IESBA emphasizes the importance of timely and global adoption of their standards. For corporate accountants, this means staying updated with chang...
View articleKPMG's faces record fine for a widespread exam cheating scandal, implicating senior staff and highlighting systemic ethical issues in the professional...
View articlePwC's Australia tax scandal has led to significant changes, including over 300 job cuts and the refusal to share a crucial report with Australian parl...
View articleAccountants and accounting firms play a crucial role in maintaining financial integrity, facing ethical dilemmas and regulatory challenges. Adherence ...
View articleThe creation of an effective sustainability standards infrastructure requires not only high-quality sustainability reporting and assurance standards, ...
View articleChanges will help to make accounting profession more attractive, ICAEW boss says Read More...
View article38% of firms required significant improvements, prompting the council to state Tier 2 and Tier 3 firms must "prioritise audit quality improvements and...
View article