Proposed Finance (Income Taxes) Bill 2026 introduces multiple tax regime changes.

The proposed Bill seeks to amend the Income Tax Act 1947 to implement Budget 2026 measures and updates from the Ministry of Finance's periodic review. It also includes legislative changes to align with the Pillar Two Global Anti-Base Erosion Model Rules.

Why it mattersLawyers must monitor these amendments as they will likely alter corporate tax obligations and introduce global minimum tax standards via Pillar Two.