Sweden proposes Pillar Two Safe Harbours for MNE Groups

The Egyptian Tax Authority has clarified the conditions for companies to retain their existing tax registration number when changing legal form, including conversion from a partnership to a capital company.

Sweden’s Ministry of Finance has proposed a new voluntary R&D tax incentive allowing businesses to claim an additional deduction of 200% of eligible wage costs. The enhanced deduction is proposed to take effect from 1 January 2027 and is designed to support domestic R&D investment while limiting potential Pillar Two impacts.

CBDT has notified the Foreign Assets of Small Taxpayers - Disclosure Scheme Rules, 2026, setting out valuation and procedural requirements for the one-time voluntary disclosure scheme. The scheme took effect on 16 August 2026, and allows eligible taxpayers to file declarations until 31 December 2026.

The Bangladesh government will shift to an April-March fiscal year from FY 2028-29, with a nine-month transition year in FY 2027-28, to reduce monsoon-related delays in infrastructure projects.

The Australian Taxation Office published monthly foreign exchange rates for the period 1 July 2026 to 30 June 2027, reminding taxpayers that all foreign income, deductions, and foreign tax paid must be converted to Australian dollars using the exchange rate prevailing at the time of transaction or an average rate before reporting. 

The US Internal Revenue Service announced tax relief on 7 August 2026 for individuals and businesses in the Commonwealth of the Northern Mariana Islands affected by Super Typhoon Bavi, extending federal tax filing and payment deadlines.