Corporate Tax Consulting Market

The global Corporate Tax Consulting market was valued at USD 1.1 Billion in 2020 and is projected to reach USD 2.85 Billion by 2028, growing at a CAGR of 8.93% from 2021 to 2028.

A tax consultancy is a business that provides expert advice to tax filers. A good tax consultant understands tax laws, and is able to advise strategies that minimize obligations while also reducing the chance of an audit that could lead to a conflict with the IRS or with a state tax agency.

The global Corporate Tax Consulting market is segmented based on by Type, , regions, and countries. The regional segmentation provides current and forecast demand across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments have been analyzed on the basis of present and future trends. Rising demand for Corporate Tax Consulting  in various countries such as the U.S., Germany, China, India, and Japan, among others is likely to support the growth of the market. Numerous companies are focusing on investing heavily in this application to cater the end user requirements effectively. The report provides comprehensive analysis of the market based on drivers, restraints, opportunities, trends, competition, and industry-authenticated data. The market is estimated from 2016 to 2020 with forecast from 2021 to 2028. 

The COVID-19 pandemic is affecting industries worldwide and the global economy took hit in 2020 and likely in 2021 as well. The outbreak created disruptions in industries such as semiconductor, consumer electronics, travel, and automotive, among others. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

No doubt about it, the right business consultant will bring a higher level of expertise to your decision-making processes. Many consultants operate in a narrow business area and are authorities in the nuances of their field which is driving the growth.

Most consultants are objective and neutral participants, free from the encumbrances of personal passions and interoffice politics, this is also driving the market.

Consultants generally cost more than direct hires, at least on an hourly basis. When project budgets are already running dangerously close to the margins, a consultant may not seem worth the investment. This is restraining the market.

Type  Analysis: Preview

On the basis of Type, the market is segmented into Tax Compilation Services, Tax Return Preparation Services, Others. Tax Compilation Services  held the leading share in 2020 and is anticipated to grow at a noteworthy CAGR over the forecast timespan. This is due to the increasing adoption of Tax Compilation Services in emerging economies in Asia Pacific region.

Analysis: Preview

Based on , the market is segmented into . accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028. 

On the basis of region, the global Corporate Tax Consulting market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America region held the largest share of the global Corporate Tax Consulting market in 2020. Some of the major countries contributing to the surge in the market are the U.S., U.K., Germany, France, China, India, Japan, and South Korea. U.S. is one of the most profitable countries for companies operating in the market. 

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

The market comprises of various small, medium, and large sized players spread across all the regions. Some of the key companies operating in the global Corporate Tax Consulting market are Liberty Tax Services Inc., Instant Tax Service, S. Sharma Tax Inc., GGF LLP, Franchise Tax Board, Jackson Hewitt Tax Service, H & R Block Services Inc., Honthy & Zarlenga Financial LLC, Major Accounting and Tax Services, BDO LLP.. The report provides company market share analysis which gives a comprehensive overview of the key competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.