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Corporate Tax Services
Market, Supplier, Risk and
Competitive Intelligence

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  • Category Report with unlimited updates
  • Supplier Watchlist for 3 suppliers
  • Supplier Shortlisting Tool

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Manage Corporate Tax Services Category with Ai powered
Procurement Productivity Suite

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Abi will answer all Corporate Tax Services related
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Get up-to-date market and supplier info on Corporate Tax Services to help you build

Intelligence covers market and price outlook, SWOT analysis, demand & supply drivers, engagement models and Procurement best practices

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Intelligence on category covers the following aspects market outlook, supply market, SWOT analysis, Cost components & Price outlook, Demand and supply drivers, Engagement Models and Procurement Best Practices

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Assess Supplier Risk based on key risk and compliance parameters

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Supplier assessment covers the following parameters Financial Risk, Ethical, Labor, Environmental Compliance, IT Security.

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Select suppliers based on industry, country, classification from a database of 4.2 mn suppliers. Get detailed supplier profiles with supplier capabilities, revenue, certifications, risk ratings

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Benchmark your category performance against peers and the market

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Measure category performance on 15 key parameters across cost, risk and strategy KPIs

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Get information on key factors affecting your supply

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Source Macro Data and Market Indices information from leading data sources across these key areas - Labor Rates, Currency, Energy, Country Risk, Trade Flow/Transportation, Port Data, Tariff, Weather and Epidemics

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Abi will answer all Corporate Tax Services related
procurement queries with relevant data points

Abi - AI powered digital procurement assistant

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Get up-to-date market and supplier info on Corporate Tax Services to help you build

Intelligence covers market and price outlook, SWOT analysis, demand & supply drivers, engagement models and Procurement best practices

1

Intelligence on category covers the following aspects market outlook, supply market, SWOT analysis, Cost components & Price outlook, Demand and supply drivers, Engagement Models and Procurement Best Practices

manage-risk

Assess Supplier Risk based on key risk and compliance parameters

1

Supplier assessment covers the following parameters Financial Risk, Ethical, Labor, Environmental Compliance, IT Security.

2

Supplier assessment is powered by world’s leading data partners including D&B, CreditSafe, Dow Jones, Refinitiv, Orpheus

discover-supplier

Identify right fit suppliers based on your selection criteria including revenue, capabilities, certification, geography

1

Select suppliers based on industry, country, classification from a database of 4.2 mn suppliers. Get detailed supplier profiles with supplier capabilities, revenue, certifications, risk ratings

assess-category-perforamnce

Benchmark your category performance against peers and the market

1

Measure category performance on 15 key parameters across cost, risk and strategy KPIs

source-market-indices

Get information on key factors affecting your supply

1

Source Macro Data and Market Indices information from leading data sources across these key areas - Labor Rates, Currency, Energy, Country Risk, Trade Flow/Transportation, Port Data, Tariff, Weather and Epidemics

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Report Coverage

  • Market Trends-Tax Implications of Brexit
  • Market Trends-Tax Function Insourcing and Co-Sourcing
  • Porter's Five Forces Analysis-US Tax Industry
  • Supplier Profile

Table of contents

  1. Executive Summary
  2. Global Trends
  3. Supply Market Outlook
  4. Demand Market Outlook
  5. Category Strategy Recommendation
  6. Category Opportunities & Risk
  7. Impact on COVID-19

 

  1. Market Analysis
  2. Market Maturity and Trends
  3. Regional Market Outlook
  4. Drivers and Constraints
  5. Tax Market Trends

 

  1. Market Monitoring Insights
  2. Cost Structure: Tax Services Firm
  3. Cost Drivers
  4. Cost Analysis and Expected Savings

 

  1. Billing Rate Benchmarking
  2. Average Indicative Tax Billing Rates: US and UK
  3. Outlook and Factors Influencing Rates
  4. Billing Rates: Methodology

 

  1. Supplier Analysis
  2. Supplier Landscape
  3. Key Global Suppliers
  4. Key Regional Suppliers
  5. Top Global Supplier Profile and SWOT Analysis
  6. Porter’s Five Force Analysis

 

  1. Procurement Best Practices
  2. Sourcing Model
  3. Engagement and Contract Model
  4. Pricing Model
  5. Key Performance Indicators (KPIs)

 

  1. Resource Mix for Tax Consulting Engagements
  2. Ideal Resource/Personnel Mix for Tax Consulting Engagements

 

  1. Negotiation Support Inputs
  2. Negotiation Levers
  3. Cost Saving Opportunities

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Global Market Outlook on Corporate Tax Services

In 2019, the global tax services industry was valued approx. $61 billion.

Before COVID-19 pandemic, global tax services industry was estimated to grow at 6–6.5 percent annually.

As per revised growth estimates of 2–4 percent annually, the global tax services industry is expected to reach $63 billion in 2020. The tax industry growth in the current pandemic situation is fueled by consistent demand for tax compliance and preparation services.

Indicative Global Tax Industry Market Size

  • Industry Growth: The global tax industry is expected to grow at CAGR of ~6.15 percent between 2015 and 2020
  • Tax Revenue (FY 2016/17): Tax services revenue for global accounting firms increased by ~8 percent
  • Tax Industry Growth Drivers: Tax services demand related to OECD BEPS reforms, Brexit, transfer-pricing, cross-border transactions; and other tax services related to mobility and compliance.

Market Share of Top Accounting Firms for Tax Services(2017) 

  • Engagement with Big Four: Big Four are the preferred choice of Fortune 500 companies for procuring tax compliance and advisory services
  • Engagement with non-Big Four Firms: Buyers are facing pressure to achieve cost optimization in compliance spending. Non-Big Four are gaining market share due to homogeneous nature of tax services
  • Non-Big Four Preferred Suppliers: BDO, Grant Thornton, Crowe Horwath, and RSM provide equivalent service at reduced rates.

Tax Services Industry Statistics-US

US accounting industry's growth is primarily fueled by advisory and consulting services. Big four hold ~ 45 percent market share of the US tax services industry.

US tax services industry was valued at ~ $30 billion in 2017, out of which more than 14 billion was contributed solely by the Big Four firms. US tax industry is expected to grow at a CAGR of ~ 6 percent between 2015 and 2019.

US Tax Industry Characteristics

  • 40% revenues of US tax industry is contributed by tax compliance & processing services; and remaining 60% is contributed by tax advisory services
  • The compliance services are usually priced as per, fixed fee or negotiated fee model, owing to its transactional nature.  The advisory services, due to their strategic nature, are usually priced according to service hour rates
  • Buyer organizations use Tax KPIs to manage tax costs( and associated risks) and to measure efficiency of tax processes; which could later translate into savings on direct and indirect tax costs.

Growth Drivers and Constraints - Global & US

Big four* hold 40-50 percent market share of the US accounting and tax industry. Big four companies are a preferred choice of most Fortune 500/S&P 500 companies because of absence of scaled competition, their industry experience and goodwill.

Drivers

  • Increased Merger & acquisitions(M&As), US economic growth, rising equity & financial markets, growing number of new businesses in US, rise in IPO and Joint Venture Activity
  • Tax Services industry growth is primary fueled by MNC's demand for the following services: OECD BEPS CbCR requirements, Brexit, US Tax Reform, international tax, State & Local Tax(SALT), GST Implementation by Indian tax authorities, VAT implementation by Gulf Cooperation Council(GCC) and Transfer Pricing Requirements
  • Tax services quality improvement through technology, innovation and digital tools implementation
  • Higher private investments, tightening regulations, VAT changes
  • Industries such as manufacturing, construction, real estate and technology; are drivers of demand for tax services in US.

Constraints

  • Shortage of quality and qualified personnel/consultants in tax services industry
  • Challenges associated with recruitment and retention of top talent in the industry
  • Mid-tier suppliers are experiencing downward pressure on their fee income. Firm consolidation(M&As among mid tier accounting firms) and aim for client market capture(from other accounting firms) are reasons thereof
  • Falling staff productivity levels due to automation- Although, automation has expedited work, but tax services firms are unable to use this additional capacity
  • Large organizations are setting up in-house consulting groups and recruiting former consultants into management positions, thereby reducing the usage of external consultants(for tax advisory).

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