G20 Citizens Favor BEPS Crackdown Over Tax Competition
Citizens in G20 countries would prefer their government engage in international efforts to improve the functioning of international tax rules than compete for tax receipts, says a new survey.
G20 public trust in tax, a report compiled by the ACCA (the Association of Chartered Certified Accountants), IFAC (the International Federation of Accountants), and CA ANZ (Chartered Accountants Australia and New Zealand), draws on the views of more than 7,600 people across the G20 countries, which in turn account for two-thirds of the world’s population, 85 percent of the world’s gross domestic product, and three-quarters of world trade.
The survey found that respondents are largely supportive of tax incentives for a range of social and economic objectives. It said that 76 percent of respondents are supportive of government tax incentives for green energy projects, 74 percent for retirement planning, and 68 percent for infrastructure projects.
Results of the survey indicate that in English-speaking countries of the G20, there is skepticism around tax minimization, with respondents in Australia, Canada, the US, and the UK tending to think that high-income earners and multinational companies are not paying enough tax.
Meanwhile, people in G20 countries distrust politicians and the media when it comes to information about the tax system, the survey found.