The short answer
- India's Income-tax Act, 2025 took effect on 1 April 2026: new section and form numbers across treaty claims, transfer pricing and residence.
- Singapore's grants were merged into EDGE from 29 September 2026.
- ACRA is reviewing the audit exemption thresholds.
- COMPASS salary benchmarks change from 1 January 2027.
India
Exhibit 1
India
| Change | Effective | Read |
|---|---|---|
| Income-tax Act, 2025 replaces the 1961 Act | 1 April 2026 | POEM now in section 6 |
| Form 41 replaces Form 10F for treaty claims | 1 April 2026 | Certificate of residence |
| Master file and CbCR forms renumbered 56 to 60 | 1 April 2026 | CbCR and master file |
| Valuation rules consolidated (Rule 57; ESOP perquisites Rule 15) | 1 April 2026 | ESOPs for Indian employees |
| GIFT City holiday: 20 consecutive years out of 25 (section 147) | Tax year 2026-27 | Singapore, GIFT City or Dubai |
| FEMA cross-border merger regulations amended | 29 May 2026 | Reverse flip |
Singapore
Exhibit 2
Singapore
| Change | Effective | Read |
|---|---|---|
| Audit exemption framework under review | Announced 26 February 2026 | Does my company need an audit? |
| Transfer pricing threshold for other categories raised to S$2 million | From YA2026 | Transfer pricing |
| Holding company COR needs a non-nominee Singapore executive director, key employee or related manager | Certificates for 2025 onwards | Certificate of residence |
| Pillar Two: first registration deadline for calendar-year groups | 30 June 2026 | Pillar Two |
| InvoiceNow mandatory for all new voluntary GST registrants | 1 April 2026 | GST registration |
| Family office conditions updated (MAS FDD Cir 05/2026) | Circular 31 July 2026 | 13O versus 13U |
| EDG, PSG and MRA replaced by EDGE | 29 September 2026 | EDGE grant |
| Corporate income tax rebate for YA2026 raised from 40% to 50%; cash grant raised to S$2,000; combined cap S$40,000 | Announced 7 April 2026 | Corporate tax for new companies |
| Employment Pass qualifying salary rises to S$6,000 (S$6,600 in financial services) for new applications | 1 January 2027 | Employment Pass |
| COMPASS salary benchmarks revised | 1 January 2027 | Employment Pass |
Questions people ask
What are the biggest changes in 2026?
India's Income-tax Act, 2025 from 1 April 2026 (new section and form numbers), ACRA's audit exemption review, EDGE replacing EDG and PSG, and the 2027 COMPASS benchmarks.
Talk it through with an adviser
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Related service: Tax and GSTFree tool: Singapore corporate tax calculatorFree tool: Start-up tax exemption checker
Sources
- India Briefing: Form 41 and treaty relief under the Income-tax Act, 2025 (secondary source)
- CAclubindia: Forms 56 to 60 under the Income-tax Act, 2025 (secondary source)
- ACRA: Review of the audit exemption framework (26 February 2026)
- Enterprise Singapore: EDGE Grant
- Pinsent Masons: Singapore revises EP salary benchmarks for 2027 (secondary source)
- Taxguru: The 2026 FEMA amendment and reverse flips (secondary source)
- Private.law: Section 13O conditions in 2026 (MAS circular FDD Cir 05/2026) (secondary source)
General information only, last reviewed 11 November 2026. It is not advice for your situation. Laws and practice change, and the official sources linked above prevail. Speak to a qualified adviser before you act. Northwise does not file with Indian authorities; India-side work is done by independent licensed firms.
