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.
Engineering and technology executives have voiced concerns over the government’s industrial strategy and the need to fill the R&D funding and long-term investment gap in a post-Brexit Britain
This year’s Finance Act is 649 pages, the second longest recorded, and highlights the increasing complexity for taxpayers of an ever expanding tax code
The International Integrated Reporting Council (IIRC) and the CIPFA have launched an introductory guide for leaders on integrated thinking and reporting
Accountancy Age is delighted to reveal the shortlists for the 2016 British Accountancy Awards