KUALA LUMPUR: While most taxpayers view paying taxes as a contribution to society, trust in government utilisation of tax revenues remains low, according to the global survey Public Trust in Tax 2024.
Conducted by the Association of Chartered Certified Accountants, the International Federation of Accountants and the Organisation for Economic Co-operation and Development, the survey gathered responses from over 10,000 individuals in 26 countries, including Malaysia.
Malaysia's results reveal more optimism than many other countries in the survey, where a 56 per cent of Malaysians believe taxes are a contribution to the community, above the global average.
About 43 per cent of Malaysian respondents agree tax revenues are spent for the public good, outperforming the global average but leaving room for improvement.
Some 40 per cent of Malaysians feel they receive a fair return in public services and infrastructure for the taxes they pay, compared to the global average of 32 per cent.
Meanwhile, Malaysians rank tax processes as relatively efficient, with 60 per cent saying it is easy to file returns and make payments, surpassing the global average of 52 per cent.
Malaysian tax accountants are the most trusted globally, with an 80 per cent trust rating, reflecting a high level of confidence in the profession.
ACCA Maritime Southeast Asia portfolio head Andrew Lim said Malaysia's stronger-than-average results highlight the potential for further trust-building measures.
"Transparency, fairness, and engagement remain vital to strengthening the fiscal contract," he added.
Meanwhile, IFAC chief executive officer Lee White said consumer and investor protection is the foundation for economic prosperity, which aligns with building trust in the tax ecosystem.
"As the survey confirms, and in line with previous editions, professional tax accountants are the most trusted source of tax information globally.
"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," he said.
Despite relatively positive perceptions, the survey noted that concerns about corruption and the equitable distribution of tax burdens persist in Malaysia, mirroring broader regional and global trends.
It emphasised that addressing these issues will be key to fostering greater public trust in tax systems.