Middle East & Africa Tax Software Market Forecast to 2030 - Regional Analysis - by Product, Tax Type, Deployment Type, End User, Enterprise Size, and Vertical

List of Tables

The Middle East & Africa tax software market is expected to grow from US$ 1,510.26 million in 2022 to US$ 2,853.39 million by 2030. It is estimated to grow at a CAGR of 8.3% from 2022 to 2030.

Increase in Digitization of Tax Systems Bolsters Middle East & Africa Tax Software Market

The ongoing digital revolution presents enormous scope for businesses-digital services and automation help to modify business models and traditional processes for improving operational efficiencies and revenues. Digital transformation or automation in businesses is characterized by the integration of digital technology in various business processes, organizational activities, and business models. The digitalization of tax systems aids in enhanced operational efficiencies, end-to-end business process optimization, and cost and human error reduction. Citizens mostly find the process of paying taxes challenging and time-consuming. The tax administration authorities are increasingly undertaking digital transformation and automation of their systems, as monitor tax compliance and collecting sufficient revenue is necessary to finance public goods and services. Digitalized tax systems have the potential to bring successful and sustainable tax reforms, ensure proper taxation, and address compliance-related challenges. Further, the COVID-19 pandemic, which led to a rise in the use of digital commerce, made digital transformation especially urgent for tax administrations. Companies are increasingly embracing tax digitalization to comply with new electronic reporting requirements and enhance the accuracy and efficiency of tax functions. The relevant investments by these companies in tax software technologies continue to rise to improve the ability to gather more tax information and gain more insights into the tax and financial positions of taxpayers. In May 2023, the Federal Tax Authority (FTA) opened the EmaraTax digital tax services platform for Public Joint Stock Companies and PriVATe Companies for registration for Corporate Tax. Further, in 2019, the General Authority of Zakat and Tax (GAZT) in Saudi Arabia has awarded a five-year contract to De La Rue, the leading global provider of security solutions, to install and run a digital tax stamp system for all tobacco and soft drink products sold in the country. Tax software quickly analyzes a client's overall financial situation and suggests insurance or investment products. It also provides services such as auditing, bookkeeping, and comprehensive financial plan preparation. The tax preparation process has become faster and more efficient as vast information is now available in digital format, which helps tax preparers directly import their client data from personal finance software in a single click. This has eliminated the need for manual entries. Sage Group plc, Xero Limited, SAP SE, and CloudTax are among the key tax software vendors operating worldwide. Further, mobile apps are available now for taxpayers, which help them effortlessly e-file their taxes. Thus, the continuous digitization of the tax system propels the growth of the tax software market.

Middle East & Africa Tax Software Market Overview

The Middle East & Africa tax software market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The region has experienced a rapid penetration of internet connectivity over the years. Government bodies have launched various initiatives to promote the adoption of digital technologies across all industry sectors to increase efficiency and strengthen their position in the global market. For instance, in March 2021, the Saudi Arabian government launched the Digital Government Authority (DGA) to oversee the national digital strategy nationwide. In addition, the region comprises several growing economies, such as the UAE, Saudi Arabia, Oman, Kuwait, and Qatar, which are becoming potential markets for digitalization. Thus, the rise in digitalization is likely to propel the tax software market in the region.

The region's personal income taxes (PITs) have a very low contribution to the GDP, owing to which the government is planning to improve the PIT regimes in the country. According to the International Monetary Fund (IMF) report on personal income tax (PIT) in the Middle East & North Africa in February 2023, the MENA region was experiencing several developments to improve the prospect that countries could successfully adopt a PIT or strengthen existing ones. Most MENA countries have VATs that raised tax administration capacity and efficiency over the past three decades (and more recently in GCC members), which is expected to be transferable to PIT regimes. In addition, the changes in technology and digitalization, business systems, and payment methods can enhance the information available to tax authorities, a key factor for the successful implementation of the PIT regime. Moreover, the countries in the region are widely adopting advanced software solutions to help individuals and businesses experience hassle-free tax filing. For example, in May 2023, Zoho launched new corporate tax features in Zoho Books, an FTA-accredited cloud accounting software to allow companies, solopreneurs, and freelancers to automate Corporate Tax compliance, which allows better visibility into their tax filings. In addition, in June 2021, Sovos, a global tax software provider, announced the availability of Sovos Advanced Periodic Reporting platform. This platform brings hundreds of customers on next-generation architecture designed for performance, scalability, enhanced functionality, and expanded global coverage. Building on over a decade, this SaaS-based indirect tax solution automates, centralizes, and streamlines indirect tax compliance processes for firms operating in the Middle East, Africa, Europe, Latin America, and Asia. Thus, such practices to improve tax prospects via digitalization and launching new solutions in the market foster tax software market in the Middle East & Africa.

Middle East & Africa Tax Software Market Revenue and Forecast to 2030 (US$ Million)

Middle East & Africa Tax Software Market Segmentation

The Middle East & Africa tax software market is segmented into product, deployment type, tax type, end user, and country.

Based on product, the Middle East & Africa tax software market is bifurcated into software and services. The software segment held a larger share of the Middle East & Africa tax software market in 2022.

In terms of deployment type, the Middle East & Africa tax software market is bifurcated into cloud and on-premise. The cloud segment held a larger share of the Middle East & Africa tax software market in 2022.

Based on tax type, the Middle East & Africa tax software market is segmented into sales tax, income tax, corporate tax, and others. The sales tax segment held the largest share of the Middle East & Africa tax software market in 2022.

Based on end user, the Middle East & Africa tax software market is bifurcated into commercial enterprises and individual. The commercial enterprises segment held a larger share of the Middle East & Africa tax software market in 2022. Further, commercial enterprises segment is categorized into enterprise size (large enterprises, medium enterprises, and small enterprises) and vertical (IT & Telecom, retail, BFSI, government, healthcare, and others).

Based on country, the Middle East & Africa tax software market is segmented into the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa. The UAE dominated the Middle East & Africa tax software market in 2022.

Sage Group Plc, Thomson Reuters Corp, Xero Ltd, Wolters Kluwer NV, Intuit Inc, and SAP SE are some of the leading companies operating in the Middle East & Africa tax software market.

Product Code: BMIRE00030082

Table of Content

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Middle East & Africa Tax Software Market Landscape

4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
- 4.3.1 List of Vendors in Value Chain

5. Middle East & Africa Tax Software Market - Key Industry Dynamics

5.1 Tax Software Market - Key Industry Dynamics
5.2 Market Drivers
- 5.2.1 Increase in Digitization of Tax Systems
- 5.2.2 Rise in Adoption of Tax Software
5.3 Market Restraints
- 5.3.1 High Software and Training Cost
5.4 Market Opportunities
- 5.4.1 Rise in Online Transactions
- 5.4.2 Growing Tax Industry
5.5 Future Trends
- 5.5.1 Rising Integration of Advanced Technologies
5.6 Impact of Drivers and Restraints:

6. Tax Software Market - Middle East & Africa Market Analysis

6.1 Tax Software Market Revenue (US$ Million), 2020 - 2030
6.2 Tax Software Market Forecast and Analysis

7. Middle East & Africa Tax Software Market Analysis - Product

7.1 Software
- 7.1.1 Overview
- 7.1.2 Software Market, Revenue and Forecast to 2030 (US$ Million)
7.2 Services
- 7.2.1 Overview
- 7.2.2 Services Market, Revenue and Forecast to 2030 (US$ Million)

8. Middle East & Africa Tax Software Market Analysis - Deployment Type

8.1 Cloud
- 8.1.1 Overview
- 8.1.2 Cloud Market, Revenue and Forecast to 2030 (US$ Million)
8.2 On-Premise
- 8.2.1 Overview
- 8.2.2 On-Premise Market, Revenue and Forecast to 2030 (US$ Million)

9. Middle East & Africa Tax Software Market Analysis - Tax Type

9.1 Sales Tax
- 9.1.1 Overview
- 9.1.2 Sales Tax Market Revenue and Forecast to 2030 (US$ Million)
9.2 Income Tax
- 9.2.1 Overview
- 9.2.2 Income Tax Market Revenue and Forecast to 2030 (US$ Million)
9.3 Corporate Tax
- 9.3.1 Overview
- 9.3.2 Corporate Tax Market Revenue and Forecast to 2030 (US$ Million)
9.4 Others
- 9.4.1 Overview
- 9.4.2 Others Market Revenue and Forecast to 2030 (US$ Million)

10. Middle East & Africa Tax Software Market Analysis - End User

10.1 Commercial Enterprises
- 10.1.1 Overview
- 10.1.2 Commercial Enterprises Market Revenue and Forecast to 2030 (US$ Million)
- 10.1.3 Commercial Enterprises, By Enterprise Size
  - 10.1.3.1 Large Enterprises
    - 10.1.3.1.1 Overview
    - 10.1.3.1.2 Large Enterprises Market Revenue and Forecast to 2030 (US$ Million)
  - 10.1.3.2 Medium Enterprises
    - 10.1.3.2.1 Overview
    - 10.1.3.2.2 Medium Enterprises Market Revenue and Forecast to 2030 (US$ Million)
  - 10.1.3.3 Small Enterprises
    - 10.1.3.3.1 Overview
    - 10.1.3.3.2 Small Enterprises Market Revenue and Forecast to 2030 (US$ Million)
- 10.1.4 Commercial Enterprises, By Vertical
  - 10.1.4.1 IT & Telecom
    - 10.1.4.1.1 Overview
    - 10.1.4.1.2 IT & Telecom Market Revenue and Forecast to 2030 (US$ Million)
  - 10.1.4.2 Retail
    - 10.1.4.2.1 Overview
    - 10.1.4.2.2 Retail Market Revenue and Forecast to 2030 (US$ Million)
  - 10.1.4.3 BFSI
    - 10.1.4.3.1 Overview
    - 10.1.4.3.2 BFSI Market Revenue and Forecast to 2030 (US$ Million)
  - 10.1.4.4 Government
    - 10.1.4.4.1 Overview
    - 10.1.4.4.2 Government Market Revenue and Forecast to 2030 (US$ Million)
  - 10.1.4.5 Healthcare
    - 10.1.4.5.1 Overview
    - 10.1.4.5.2 Healthcare Market Revenue and Forecast to 2030 (US$ Million)
  - 10.1.4.6 Others
    - 10.1.4.6.1 Overview
    - 10.1.4.6.2 Others Market Revenue and Forecast to 2030 (US$ Million)
10.2 Individual
- 10.2.1 Overview
- 10.2.2 Individual Market Revenue and Forecast to 2030 (US$ Million)

11. Middle East & Africa Tax Software Market - Country Analysis

11.1 Middle East & Africa: Tax Software Market
- 11.1.1 Middle East & Africa: Tax Software Market, By Key Country - Revenue 2022 (US$ Million)
- 11.1.2 Middle East & Africa: Tax Software Market, by Key Country
  - 11.1.2.1 UAE: Tax Software Market - Revenue and Forecast to 2030 (US$ Million)
    - 11.1.2.1.1 UAE: Tax Software Market, by Product
    - 11.1.2.1.2 UAE: Tax Software Market, by Deployment Type
    - 11.1.2.1.3 UAE: Tax Software Market, by Tax Type
    - 11.1.2.1.4 UAE: Tax Software Market, by End User
    - 11.1.2.1.4.1 UAE: Tax Software Market, Commercial Enterprises by Enterprise Size
    - 11.1.2.1.4.2 UAE: Tax Software Market, Commercial Enterprises by Vertical
  - 11.1.2.2 Saudi Arabia: Tax Software Market - Revenue and Forecast to 2030 (US$ Million)
    - 11.1.2.2.1 Saudi Arabia: Tax Software Market, by Product
    - 11.1.2.2.2 Saudi Arabia: Tax Software Market, by Deployment Type
    - 11.1.2.2.3 Saudi Arabia: Tax Software Market, by Tax Type
    - 11.1.2.2.4 Saudi Arabia: Tax Software Market, by End User
    - 11.1.2.2.4.1 Saudi Arabia: Tax Software Market, Commercial Enterprises by Enterprise Size
    - 11.1.2.2.4.2 Saudi Arabia: Tax Software Market, Commercial Enterprises by Vertical
  - 11.1.2.3 South Africa: Tax Software Market - Revenue and Forecast to 2030 (US$ Million)
    - 11.1.2.3.1 South Africa: Tax Software Market, by Product
    - 11.1.2.3.2 South Africa: Tax Software Market, by Deployment Type
    - 11.1.2.3.3 South Africa: Tax Software Market, by Tax Type
    - 11.1.2.3.4 South Africa: Tax Software Market, by End User
    - 11.1.2.3.4.1 South Africa: Tax Software Market, Commercial Enterprises by Enterprise Size
    - 11.1.2.3.4.2 South Africa: Tax Software Market, Commercial Enterprises by Vertical
  - 11.1.2.4 Rest of Middle East & Africa: Tax Software Market - Revenue and Forecast to 2030 (US$ Million)
    - 11.1.2.4.1 Rest of Middle East & Africa: Tax Software Market, by Product
    - 11.1.2.4.2 Rest of Middle East & Africa: Tax Software Market, by Deployment Type
    - 11.1.2.4.3 Rest of Middle East & Africa: Tax Software Market, by Tax Type
    - 11.1.2.4.4 Rest of Middle East & Africa: Tax Software Market, by End User
    - 11.1.2.4.4.1 Rest of Middle East & Africa: Tax Software Market, Commercial Enterprises by Enterprise Size
    - 11.1.2.4.4.2 Rest of Middle East & Africa: Tax Software Market, Commercial Enterprises by Vertical

12. Industry Landscape

12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Mergers & Acquisitions

13. Company Profiles

13.1 Sage Group Plc
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
13.2 Thomson Reuters Corp
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
13.3 Xero Ltd
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
13.4 Wolters Kluwer NV
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
13.5 Intuit Inc
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
13.6 SAP SE
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments

14. Appendix

14.1 About the Insight Partners
14.2 Word Index