- InvoiceNow Overview:
Singapore’s e-invoicing network based on the Peppol international standard, enabling structured, digital exchange of invoices between businesses.
Integrated with IRAS for seamless GST reporting and compliance. - Implementation Timeline:
- 1 May 2025: Soft launch for early adopters (existing GST-registered businesses)
- 1 Nov 2025: Mandatory for newly incorporated companies registering voluntarily for GST
- 1 Apr 2026: Mandatory for all new voluntary GST registrants
- Future rollout: Gradual expansion to all GST-registered businesses
- Compliance Scope:
Applies to GST-registered businesses for:- Standard-rated and zero-rated supplies
- Standard-rated purchases
(Excludes overseas entities and those under reverse charge)
- How It Works:
- Direct exchange of e-invoices between InvoiceNow-ready systems
- Data automatically transmitted to IRAS
- Paper/PDF invoices still supported for non-InvoiceNow customers — but must be recorded in InvoiceNow-ready software
- How to Prepare:
- Verify your accounting software is InvoiceNow-enabled
- Register for a Peppol ID via the SG Peppol Directory
- Connect system to IRAS API
- Test and activate data transmission
- Support & Incentives:
- Grants available: PSG, LEAD Connect & Transact, InvoiceNow Transaction Bonus
- Free and subsidized solutions for SMEs and microbusinesses
- IMDA-accredited providers for setup assistance
Benefits
Faster Invoicing & Payments
Direct integration with IRAS ensures accurate and timely GST submissions.
Improved GST Compliance
Automates data entry, reduces paperwork, and eliminates rekeying errors.
Reduced Manual Work
Real-time transmission speeds up invoice processing and cashflow.
Enhanced Accuracy
Built-in system validation reduces errors in invoice and tax data.
Lower Operational Costs
Cuts costs associated with printing, mailing, and manual reconciliation.
Faster GST Refunds
Quicker submission leads to faster IRAS verification and refund processing.
Supports Sustainability Goals
Digital invoicing reduces paper usage and improves audit efficiency.
Future-Ready Infrastructure
Aligns with Singapore’s Smart Nation and digital economy initiatives.
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