Singapore GST Invoicenow Requirement
InvoiceNow is the nationwide e-invoicing network based on an international standard called “Peppol”. It was introduced by the Infocomm Media Development Authority (“IMDA”) in 2019. InvoiceNow enables businesses to easily send and receive invoices in a structured digital format. This digital invoicing method reduces the need for manual processing and recording of invoices in accounting systems, which helps businesses avoid tedious work and errors.
To support the nationwide InvoiceNow initiative, and as part of our ongoing transformation efforts to digitalise with the wider ecosystem and integrate tax into taxpayers’ accounting and payroll systems, GST-registered businesses will be required to use InvoiceNow-Ready Solutions to send invoice data to IRAS for tax administration purpose. Invoices that are not issued using InvoiceNow (e.g. for sales made via point-of-sale systems) should also be recorded in InvoiceNow-Ready Solutions and sent to IRAS.
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Phased adoption of GST InvoiceNow Requirement
To allow businesses sufficient lead time to prepare, the GST InvoiceNow Requirement will be implemented in a calibrated and progressive manner as follows:
(1)
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From 1 November 2025, for newly incorporated companies that register for GST voluntarily.
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(2)
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From 1 April 2026, for all new voluntary GST-registrants, regardless of incorporation date or business constitution.
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A soft launch for early adoption has commenced on 1 May 2025. IRAS encourages all GST-registered businesses and businesses applying for GST registration on/after 1 May 2025 to transmit their invoice data to IRAS using InvoiceNow-Ready Solutions via the InvoiceNow network.
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InvoiceNow-Ready Solutions
InvoiceNow-Ready Solutions are accounting and finance solutions that allow the transmission of invoices between businesses via the InvoiceNow network. They can be purchased off-the-shelf or be customised specifically for businesses in the form of proprietary enterprise resource planning systems.
InvoiceNow-Ready Solutions will be connected to IRAS through Access Points (AP). This connection will enable the transmission of invoice data to IRAS via Application Programming Interface (API) technology. When businesses activate the feature to transmit invoice data to IRAS, IRAS will receive a copy of the invoice data whenever businesses issue or receive invoices via the InvoiceNow network, or when they record other invoices into their InvoiceNow-Ready Solutions.
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Benefits of using InvoiceNow-Ready Solutions
Using InvoiceNow-Ready Solutions offer the following advantages:
(1)
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Simplicity: A single solution of your choice for invoicing across different parties (including businesses and government) and tax compliance.
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(2)
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Efficiency: As a supplier, you can enjoy faster invoice issuance directly from your billing system. As a buyer, the invoice data goes directly into your accounting solution, reducing manual data entry and errors when keying the invoice into your accounting solution.
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(3)
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Reliability: Invoices are delivered over the secure InvoiceNow network based on the international Peppol standard.
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GST-registered businesses are required to maintain good record-keeping controls and accounting processes. Adopting InvoiceNow-Ready Solutions will help businesses fulfil these responsibilities.
GST-registered businesses that transmit invoice data to IRAS via InvoiceNow-Ready Solutions can benefit from reduced compliance efforts when preparing data for submission to IRAS.
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Due date for transmission of invoice data to IRAS
The invoice date must be transmitted to IRAS by the earlier of:
(1)
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The date on which the relevant GST return if filed; or
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(2)
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The filing due date of the relevant GST return.
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KNOWLEDGE
