ACCA: tax laws should be changed to help businesses
Modifications must be made to tax laws to make them more open, transparent and cut down the burden faced by businesses, say the Association of Chartered Certified Accountants (ACCA) in a new policy paper.
The new ACCA paper highlights 12 areas that require specific attention by governments across the world, including simplifying legislation, tightening the rules on the difference between tax avoidance and evasion and making green tax laws more straightforward and explicit.
“Volume of legislation needs to be kept to a minimum too, especially to help over burdened small businesses and entrepreneurs,” said Chas Roy-Chowdhury, head of taxation at ACCA.
