The Inland Revenue Authority of Singapore (IRAS) has introduced an e-invoicing mandate that utilizes the Peppol network, specifically through the InvoiceNow system.

Timeline

Adoption of the system is voluntary beginning in May 2025, allowing businesses to report their invoice data to the IRAS

Initially, e-invoicing will become mandatory for voluntary GST registrants according to the following schedule:

• From 1 Nov 2025, for newly incorporated companies that voluntarily register for GST.
• From 1 Apr 2026, for all new voluntary GST-registrants.

Impact

Although the implementation timelines for all businesses have not yet been announced, businesses subject to the GST InvoiceNow Requirement will be required to transmit to IRAS invoice data related to standard-rated supplies, zero-rated supplies, and standard-rated purchases for which input tax claims will be made.

Businesses must prepare their systems in accordance with the upcoming changes to ensure compliance.