Tax Preparation Services companies engage in providing tax return preparation services and does not include accounting, bookkeeping, billing or payroll processing services. Basic knowledge of tax law and filing requirements is required.
The global tax preparation services market was valued at $11 billion in 2017. North America was the largest geographic region accounting for $4.6 billion or 0.4% of the global market. The USA was the largest country accounting for $3.8 billion or 0.3% of the global tax preparation services market.
Digitalization of tax offices in most developed and developing countries is evolving the market for tax preparation services. They are increasingly providing advisory and taxation guidance as well as traditional filing and lodging services which have become less important with the growth of e-filings. For instance, the Australian Tax Office will now allow e-tax. This will reduce the manual processing of data and make the tax return process easier allowing accountants to focus on high end tasks.
Companies Covered: H&R Block, PwC, Delloite, Ernst & Young, KPMG
Market Segments Included: Tax Compilation Services, Tax Return Preparation Services, Other Tax Return Preparation Services
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