Global Tax Market Assessment 

2020 KEY TAKEAWAYS USA

The Top Five Topics Expected to Most Impact Tax This Year.

1. The Exodus Begins, Demographic Impact on Tax- This 2020 trend will have the most substantial and long-lasting effect on the tax market. Two-thirds of U.S. Heads of Tax will be retiring over the next eight years with a majority exiting the industry in the next four. Further, 52% of the number two’s, reporting to Heads of Tax, are retiring in exactly the same timeframe.
 
2. Current Market Conditions- We are currently in an aggressive candidate-driven market and do not anticipate the hiring market to slow down throughout the remainder of the year. 

3. The Roll Out of Global Tax Reform- U.S. Tax Reform resulted in a domino effect on a global scale. Regions and countries will continue to implement tax reform and regulations of their own to ensure they receive the tax revenues they perceive as “fair.” This has created a considerable increase in workload for corporate in-house tax departments and will continue to do so.

4. In-House vs. Outsourcing /Co-Sourcing Arrangements- While some companies will outsource their entire tax department, we anticipate more companies will look to utilize a co-sourcing model with outside firms, resulting in a more strategic and value-adding solution, particularly in the areas of compliance and technology.

5. Technology's Impact on Tax- Due to tax reform and regulatory changes, many tax departments put major technology initiatives on hold. We anticipate they will move forward with their plans more aggressively in 2020. We believe most of these technology transformations will initially be oversold and under-delivered.