The cloud tax management software market is projected to grow at a considerable CAGR of 12.5% during the forecast period. The ongoing globalization, increasing competition, an ever-increasing regulatory compliance burden have created a need of advanced software that can maintain all the tax legislation to maintain continuity of the business processes. The cloud tax management software offers management solutions on the cloud to increase mobility and distribute data storage and computing rights. Therefore, the increasing demand for tax management solutions for the maintenance of tax filling is a major factor to promote the adoption of the cloud tax management solution which in turn is anticipated to promote the growth of the global cloud tax management software market.

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The global tax regulations, such as the Organization for Economic Cooperation and Development’s (OECD’s) Action Plan on Base Erosion and Profit Sharing (BEPS) represents one of the most sweeping global tax changes in recent history, and it will have major direct tax implications for multinational entities (MNEs). Therefore, the software that can easily perform the operation by quickly adopting the new changes in the policies is the need of the hour. Moreover, the increasing adoption of cloud computing owing to the increased efficiency of the enterprises, improved employee mobility, and increased ability of production innovation, and reduced IT operating costs are the key factors that are promoting the enterprises to adopt cloud-based tax management software solution, which in turn anticipated to drive the growth of the global cloud tax management software market.

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Global Cloud Tax Management Software Market Market Segmentation

By Type

Direct Tax

In-Direct Tax

By Vertical

Banking Financial Services and Insurance (BFSI)

Information Technology (IT) and Telecom

Energy & Utilities

Healthcare & LifeScience

Government

Retail and Consumer Goods

Others

Regional Analysis

North America

US

Canada

Europe

UK

Germany

Italy

Spain

France

Rest of Europe

Asia-Pacific

China

India

Japan

Rest of Asia-Pacific

Rest of the World

Company Profiles

Acumatica, Inc.

ADP, LLC

Avalara, Inc.

Blucora, Inc.

CrowdReason, LLC

Crozdesk, Ltd.

Drake Enterprises, Inc.

E-Crunch, Ltd.

H&R Block, Inc.

Intuit, Inc.

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