This report provides forecasting and analysis of key trends impacting the global tax industry. Key takeaways for the U.S. market include:
- The demographic impact of Baby Boomer retirements will have the most substantial long-term effect on the tax market.
- The hiring market is expected to remain active, especially during the 2020 election year.
- Global tax reform continues to create challenges as countries implement new regulations.
- More companies are expected to adopt co-sourcing models for tax functions rather than full outsourcing.
- Tax technology initiatives that were delayed due to tax reform are likely to move forward more aggressively in 2020.
For non-U.S. markets, the report highlights:
- Increased compliance burdens and audits across regions
- Growing demand for transfer pricing and international tax professionals
- Continued tax reform and digitalization of tax processes in many countries
- Rising need for tax professionals with technology skills
The assessment emphasizes the ongoing challenges of talent shortages, evolving regulatory landscapes, and the need for tax departments to become more technologically advanced and business-integrated across all regions.s significant changes ahead for tax departments in staffing, technology, and strategic focus.
