Finance News by Forvis Mazars April 2026

Thu | 30.04.2026

Accounting/audit/tax

Global private equity outlook 2026: exploring new investment direction

The Forvis Mazars global private equity outlook 2026 delivers exclusive insights from over 800 private equity professionals across regions, sectors and investment strategies.

The 2026 private equity market is shaped by tighter execution, shifting financial conditions and a strong focus on technology and international growth. Firms are adapting strategies to prioritise operational influence and value creation while navigating evolving capital structures and timing pressures.

Execution is now the differentiator: private equity firms are shifting away from scale and deal volume towards hands-on value creation. The strongest performers are prioritising control, operational influence and clearly defined levers for growth across their portfolios.
Portfolio performance is stabilising: returns in 2026 show continuity rather than disruption. Exit outcomes are broadly in line with last year, with fewer deals underperforming, signalling a gradual return of confidence as valuation gaps narrow.
Financing is shaping how deals are built and exited: tighter credit markets are influencing capital structures, build-up strategies and exit timing. This is making disciplined deployment and creative financing increasingly important for investors.

MF Order No. 203/2026: implications regarding the global minimum tax, deferred tax treatment and the transition to IFRS

Order no. 203/2026, issued by the Ministry of Finance, establishes the conditions under which entities subject to the global minimum tax may transition to International Financial Reporting Standards (IFRS) and provides clarifications on the presentation of deferred taxes by entities applying local accounting regulations, namely Order no. 1802/2014.

Forvis Mazars’ tax experts prepared a material to support companies in navigating these new requirements and understanding their practical implications.

Recommendations for companies:

Analysis of whether companies fall within the scope of the global minimum tax rules and calculation of the tax, starting with the 2024 financial year.
Assessment of the opportunity to transition to IFRS from an operational and reporting perspective, especially in situations where reporting is prepared both under national standards and IFRS, as well as in the context of reconciliations between the two accounting frameworks.
Analysis of the impact of the IFRS transition on the relevant tax regulations applicable to the transition process.
Determination of deferred taxes.

Introduction of the refundable tax credit for research and development (R&D) expenses

A notable change to the fiscal landscape has been introduced under the economic recovery measures adopted on 25 February 2026: a refundable tax credit for research and development (R&D) expenses.

Companies now have the option to apply a 10% tax credit on eligible R&D expenses, as an alternative to the existing 50% additional deduction.

The R&D tax credit has been introduced to align the national tax framework with OECD Pillar II (GloBE) global minimum tax requirements. As a refundable credit, it preserves its benefit without negatively impacting the effective tax rate.

Recommendations for companies:

Analysis of the company’s specific situation to identify potential activities carried out in the field of R&D.
Comparative evaluation of the two tax facilities to identify the most advantageous option.
Monitoring the procedure for implementing the tax credit and the related methodological norms.
Analysis of the implications of the tax credit and the additional deduction for R&D in the context of the rules brought by the global minimum tax.

Sell-side advisory: Your strategic partner for business exit

Selling your company is a defining moment. Whether you're planning an exit, raising growth capital, or moving to your next chapter, timing and preparation are everything.

At Forvis Mazars, their tailored M&A advisory services guide you through every stage of the sale process - maximising value and ensuring a smooth transaction. The real question isn’t if you should sell, but when and how to do it right.