A global survey, Public Trust in Tax 2024, conducted by ACCA, IFAC, and the OECD, reveals a deepening lack of trust in how tax revenues are being used for the public good. Despite broad support for the idea of a fiscal contract – where citizens agree to pay taxes in exchange for public services – only a third of respondents believe this deal is being honored in practice. The survey found that 52% of respondents globally consider taxes a contribution to the community, but just 33% believe tax revenues are spent for the public good.
Additionally, only 32% agree that public services and infrastructure provide a fair return for the taxes they pay. This suggests a significant disconnect between tax payments and the public’s perception of how those funds are utilized. The findings are particularly stark in Latin America, where only 47% see taxes as a contribution to the community, and a mere 25% believe they receive a fair return in the form of public services.
In contrast, respondents from Africa and Asia expressed more optimism, with 56% and 52%, respectively, viewing taxes primarily as a matter of legal obligation. In Latin America, however, only 39% saw tax as a legal issue, with 45% viewing it as a mix of law and morals. Helen Brand OBE, Chief Executive of ACCA, emphasized that the lack of trust in tax systems poses a major challenge to sustainable development and prosperity. She highlighted the need for policymakers, tax authorities, and civil society to address these gaps and build more effective tax systems.
The survey also revealed that tax accountants are the most trusted source of tax information globally, while politicians are viewed as the least trustworthy, underscoring the need for transparency and integrity in the tax ecosystem.
