Singapore’s IMDA has updated its FAQs regarding the national InvoiceNow e-invoicing initiative and network. The InvoiceNow network is built on the Peppol network and is based on Peppol BIS Billing 3.0 standards, with Singapore GST rules replacing VAT-related rules. E-invoicing in Singapore is voluntary for B2B transactions but mandatory for B2G transactions. The Accountant-General’s Department is the central recipient for all e-invoices submitted to Singapore Government Agencies. InvoiceNow supports GST reporting and Tax Invoice requirements in Singapore. The FAQs cover topics such as what InvoiceNow is, how it differs from PDF e-invoicing, and the involvement of banks and IMDA. Business to consumer transactions are currently not covered by InvoiceNow.
Source Avalara
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