A career in taxation in Malta : a study

Abstract

Purpose: The purpose of this study is to assess a career of a tax professional in Malta. It examines the motivational factors that drive people to choose such a career and assessess the importance of the technical and soft skills required. The study also identifies the opportunities and challenges, the qualifications held by tax professionals, as well as their views regarding further education and training. The future of the profession and whether professionals feel it should be regulated, will also be determined. The study also points out the different viewpoints between accountants and lawyers as well as between professionals working within the private and public sector. Design: The research was conducted by distributing 144 questionnaires out of which 108 responded. The research was complimented by carrying out 6 semi-structured interviews with tax professionals. Findings: The study reveals that being an accountant or a lawyer is only a starting point to having a career in taxation. Professionals must develop a wide range of specific technical as well as soft skills. Therefore, further education and continuous training is considered to be imperative in order to progress. Furthermore, the study ascertains that professionals feel the need for the tax profession to be regulated in order to ensure that such a standard is maintained. Conclusions: Although the tax profession has a negative perception, the study concludes that tax practitioners are satisfied and would highly recommend it as a career choice. They acknowlegde that there are bright prospects for a career in tax, especially locally, as more foreign companies are setting up in Malta due to the favourable tax regime and because Malta is striving to expand its financial services sector. This brings about the need for specialisation which further emphasises the importance for professionals to further their studies in order to be successful in their career. Value: It is hoped that this study will enhance awareness of the tax profession and contribute to further improvements in the level of education and training by generating discussions amongst the profession.