This paper highlights the relationship between taxation, accounting and transparency for achieving disclosure and efficiency. Research takes into consideration taxation costs and legislation in order to discern an optimized business level of transparency. The data collected from questionnaires were analyzed by descriptive statistical analysis, followed by factor analysis and reliability testing that led to relationships between tax authorities' efficiency, financial framework reliability, and accounting assisted control systems. A close relation was found between a country's fiscal framework and accounting assisted transparency that may lead to a better cooperation between state law, efficient taxation, required transparency and collaboration of accounting in auditing procedures. Modern business and audit environments abide to a steady set of values. However, instead of a clear positive effect on accounting assisted transparency, there seems to be a different tendency. The factors seem to push tax authorities and businesses to reach international market levels of auditing. This study confirms that accounting and tax systems can be handled in a unified way and enable at an E.U. level, creating scale economies for corporations and citizens.
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