DEVELOPMENT OF THE GLOBAL TAX CONSULTING MARKET

Abstract

The global tax consulting market is growing every year. Given the unstable economic environment in different countries and the constant changes in tax legislation that can complicate business activities, the assistance of tax consultants plays an important role in the functioning of business entities. They can not only provide recommendations on tax accounting, tax reporting or choosing the best taxation system, but also help companies optimize their tax burden, carry out tax planning and prevent possible tax risks, etc. Therefore, the purpose of this article is to study the development of the global tax consulting market, identify the main drivers and challenges, reveal the role of information technology in the development of these services and identify the key market players. In the course of the research, general scientific methods were used, in particular, methods of abstraction, theoretical generalization and comparison to substantiate the role and importance of tax consulting in the activities of enterprises, as well as to characterize the systems of its legislative regulation. In order to identify the main trends, drivers and challenges affecting the development of the tax consulting market, the author uses the methods of induction, deduction and special methods. The paper describes the current state of the global tax consulting market. The authors have identified the key trends in the market development by geographical regions and types of services, as well as reviewed the existing systems of tax consulting regulation in the world. Among the main driving forces affecting the market development are the complexity of tax legislation, the growing need for tax planning and optimization services, and the development of information technology. The challenges faced by tax advisors around the world include the unpredictability of tax legislation, the development of technology and the need for continuous staff development to use it, attention to data privacy and security, and high competition between companies providing such services. The author also reveals the role of information technology in the provision of tax consulting services and identifies the key representatives of this market. The practical value of the article lies in the fact that the results can be used to develop effective measures based on international experience that will contribute to the development of the Ukrainian tax consulting market and improve its legislative regulation.