PUBLISHER: Allied Market Research | PRODUCT CODE: 1179805
PUBLISHER: Allied Market Research | PRODUCT CODE: 1179805
A person who has specific understanding in tax accounting, tax law, and financial expertise is referred to as a tax advisor. A tax advisory service firm skills are often sought out in complex financial situations in order to minimize the tax owed while being legally compliant. Certified Public Accountants (CPAs), licensed agents, tax attorneys, and some financial advisors are examples of tax consultants.
Rise in demand for tax advisory services among SMEs, as well as the ongoing need to improve organizational efficiency, drives the growth of the tax advisory services market. In addition, factors such as increase in demand for better tax filing strategies impact growth of the market. However, lack of awareness about tax advisory services and higher dependency on traditional methods are expected to hamper the market growth. On the contrary, rise in innovations in the financial industry and untapped potential of emerging economies are expected to offer remunerative opportunities for the market during the forecast period.
The tax advisory services market is segmented into type, organization size, industry vertical, and region. By type, the market is differentiated into direct tax advisory and indirect tax advisory. The direct advisory is further segregated into income tax, corporate tax, property tax, capital gains tax and others. The capital gains tax is further segmented into long-term capital gain and short-term capital gain. Depending on organization size, it is fragmented into large enterprises and small and medium-sized enterprises. The industry vertical segment is segmented into banking, financial services, & insurance (BFSI), IT & telecom, manufacturing, retail & e-commerce, public sector, healthcare, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The tax advisory services market analysis includes top companies operating in the market such as Accenture Inc., Aon PLC, Bank of America Corporation, Citigroup Inc., CGI, Inc., Cognizant, CSC Consulting Services, CREDIT SUISSE GROUP AG, Deloitte, Goldman Sachs, JPMorgan Chase & Co., Morgan Stanley, Northern Trust Corporation, PwC, Wells Fargo, Tax scouts, and Taxfyle. These players have adopted various strategies to increase their market penetration and strengthen their position in the tax advisory services industry.
By Organization Size
By Type
By Industry Vertical
By Region