Tax Advisory Work Slumps to 9% in 2020, Quick Recovery Expected

Jan. 11, 2021, 12:01 AM

The global tax advisory market should recover quickly from a pandemic-induced slump last year, although it will not fully regain 2019 levels, according to a new report.

The market is expected to grow by 7% in 2021, following a 9% decrease to $33.4 billion in 2020, London-based Source Global Research said in the report released Monday. The market researcher analyzed figures from more than 400,000 consulting firms employing more than 50 people.

Demand for compliance work meant that tax advisory services had survived the pandemic relatively well, with general management consulting ...

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