After years of rising growth multiples, Europe’s software market is repricing. Our first Navigating Dealflow: European Software Quarterly brings a clear view of how this reset is changing M&A, where valuations are landing, and which segments are holding up.

On February 13, 2026, the German Federal Ministry of Finance (Bundesfinanzministerium or BMF) released a draft of new administrative principles on the definition and creation of permanent establishments (PEs) under domestic tax law (§ 12 AO, § 13 AO) and double tax treaties (Art. 5 OECD Model). The draft represents the most significant update to Germany’s PE framework since the last amendment in 2026 and incorporates extensive BFH case law as well as the OECD’s 2025 Model Convention and Commentary.

Tokenization Tax Planning for RWAs: Classification, PTP risks, FIRPTA, portfolio interest, VAT, and withholding. Design tax from day one.

he UAE has now published the longawaited framework legislation for an R&D tax credit under the UAE Corporate Tax regime through Cabinet Decision No. (215) of 2025.

Central Bank of The UAE has introduced a five-pillar resilience package to support the banking system aimed at maintaining liquidity and credit flow – reinforcing stability with proactive measures in place to secure confidence and ensure continuity. Our analysis expands on what this means for our economy and key sectors, the borrower group as well as the creditors and deposit holders.

With less than four months until Payday Super begins on 1 July 2026, the focus has shifted to implementation.

Managing Director Brian Irwin recently featured in The Wall Street Journal, discussing how rapidly rising fuel costs could influence consumer behavior and automotive sales.

Thai Auto Parts sector overview, tiers, value drivers, and transfer pricing strategies for MNEs operating in Thailand.

The report titled “The New Consumer Imperative: Rewiring Commercial Models for Growth” draws on a proprietary survey of 2,019 respondents across 54 cities, supplemented by government data, platform disclosures and industry research, and identifies six behavioural shifts that are redefining the Indian consumer.

Prepare for GST InvoiceNow by working backward from 2031. Align governance, data, and ERP design; standardize processes; embed tax logic to reduce risk.

Alvarez & Marsal releases its inaugural U.S. Activist Alert Report, examining the market forces shaping shareholder activism in 2026, from rising M&A pressure to increased investor scrutiny, and what boards can do to stay ahead.

Heightened market volatility and growing institutional demand for client-centered and dedicated portfolio valuation advisory services accelerate global expansion.

We set out six success factors—clear strategy, no stop‑start execution, lean principles, proactive risk management, stakeholder alignment, and transparency with technology—and show how early regulator and supplier engagement, outcome‑based contracts, and vendor quality gates convert decommissioning into a performance‑driven capital programme.

Financial distress is accelerating and becoming more entrenched across European businesses as mounting macroeconomic and geopolitical pressures eroded both earnings and balance sheet resilience in 2025.

The latest A&M Distress Alert highlights 13.5% of companies in Europe are now classified as distressed, the highest level since at least 2022 and up from 8.6% in 2024.

The right dispute strategy often begins with understanding what the financial evidence can actually support. Senior Director Kelvin Cheong explores how early forensic insight can help parties preserve evidence, assess financial viability, and approach negotiations, arbitration, or litigation with greater clarity and confidence.