Singapore’s e-invoicing mandate will be implemented in phases, starting in May 2025. The goal is to eventually require all GST-registered businesses to use the InvoiceNow e-invoicing system.
Timeline
- May 1, 2025: GST-registered businesses can voluntarily start using InvoiceNow
- November 1, 2025: Newly incorporated companies that register for GST can voluntarily use InvoiceNow
- April 1, 2026: All new voluntary GST registrants must use InvoiceNow
Benefits
The goal is to streamline compliance, reduce manual work, and process invoices digitally. The InvoiceNow system is based on the international Peppol standard.
How it works
Businesses will use InvoiceNow to send invoice data directly to the Inland Revenue Authority of Singapore (IRAS). Businesses will need to:
- Register with a PEPPOL Access Point Provider
- Use an Advanced Electronic Signature to ensure invoice integrity and authenticity
- Obtain CorpPass KYC certification if they are a Singapore-based entity with a valid UEN
Support
To encourage businesses to adopt e-invoicing, the government is offering newly incorporated businesses a free year of InvoiceNow services.