- In May 2018, Singapore’s tax authority, IMDA, became the first Peppol authority outside the EU, demonstrating their commitment to digital transformation.
- In January 2019, IMDA launched a nationwide e-invoicing network, later rebranded as InvoiceNow in September 2020, with the goal of encouraging e-invoicing adoption in both B2G and B2B environments.
- Although participation is currently voluntary, the government intends to make InvoiceNow mandatory for B2G transactions, but the timeline is uncertain.
- The Peppol network uses a standardized format to facilitate document exchange between different accounting and ERP platforms, enabling seamless communication between businesses.
Source SNI
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