A landmark global survey, Public Trust in Tax 2024, reveals that while most taxpayers recognise the principle of paying taxes as a contribution to society, trust in how governments utilise tax revenues remains low.
Conducted by the Association of Chartered Certified Accountants (ACCA), the International Federation of Accountants (IFAC), and the Organisation for Economic Co-operation and Development (OECD), the survey gathered responses from over 10,000 individuals across 26 countries, including Malaysia.
The survey highlights significant disparities in global perceptions of tax systems. While 52% of respondents see taxes as a contribution to the community, only 33% feel tax revenues are spent for the public good, and just 32% believe public services provide a fair return on their taxes.
Helen Brand OBE, Chief Executive of ACCA, noted:“Trust in tax systems is crucial for sustainable development and prosperity, and the findings of this survey highlight the challenges that many governments across the world face in building it.
“We look forward to using this important work to engage with policymakers, tax authorities and civil society to drive evidence-based policy initiatives to build effective and trusted tax systems.”
Commenting on the trust placed in tax accountants, Lee White, CEO of IFAC, said: “This trust places an enormous responsibility on our profession to act with integrity, to bridge the gap between governments and taxpayers, and to uphold the highest standards of ethics.”
Manal Corwin, Director of the OECD Centre for Tax Policy and Administration, emphasised the need to rebuild trust: “Support for the fiscal contract remains strong in theory, but it’s not being delivered in practice for many.”
In Malaysia, survey results revealed more optimism than the global average. While 56% of Malaysians believe taxes contribute to the community, 43% agree that revenues are spent for the public good.
Additionally, 40% feel they receive a fair return in public services, and 60% find it easy to comply with tax processes. Malaysian tax accountants were the most trusted globally, with an 80% trust rating.
Andrew Lim, Portfolio Head of ACCA Maritime SEA, stated:“Transparency, fairness, and engagement remain vital to strengthening the fiscal contract.”
Despite these positive perceptions, concerns about corruption and tax fairness persist in Malaysia, reflecting broader global challenges. Addressing these issues is key to building greater public trust.
A webinar on 28 January 2025, hosted by ACCA, IFAC, and the OECD, will explore these findings and discuss strategies for enhancing tax systems worldwide.
The full report, Public Trust in Tax 2024, is available at ACCA’s website: Public Trust in Tax 2024.
