KARACHI: The global ‘Biennial G20 Public Trust in Tax Survey’ conducted by ACCA (Association of Chartered Certified Accountants), ‘IFAC’, and ‘CA ANZ’ shows that accountants have a major role to play in reducing corruption, bringing transparency and accountability. Corruption has a negative impact on people’s attitudes towards tax.

The chief executive of ACCA – Helen Brand said, “Public unease and perceptions about how tax money is spent, is reflected in the respondents’ comments.”

Results show that 53.8% consider corruption a major factor. However, most people believe that professional accountants contribute to improving tax systems efficiency by 59%, effectiveness by (57%), and fairness by 55%.

Moreover, 57% respondents showed willingness to pay more taxes if public funds were used transparently for sustainable development. Professional Accountants remain the single most trusted stakeholder in tax in every G20 country, since this survey and initiative began in 2017.

Copyright Business Recorder, 2023