- The Inland Revenue Authority of Singapore (IRAS) has announced its adoption of the InvoiceNow (Peppol) e-invoicing network for GST administration.
- IRAS collaborated with the Infocomm Media Development Authority (IMDA) to evaluate a decentralized Continuous Transaction Control (CTC) model through a pilot program involving selected Singaporean businesses.
- IMDA became the first Peppol Authority outside of Europe in May 2018, and the nationwide E-invoicing network was launched in January 2019 with 11 Access Point providers.
- In 2019, Peppol-ready solutions were accredited, and by January 2020, over 50 solution providers had integrated into the network.
- The nationwide E-invoicing network was rebranded as InvoiceNow in September 2020, reflecting its widespread adoption.
- More information will be provided, and IMDA will work with accredited Peppol service providers to implement this initiative in Singapore’s business landscape.
Source SNI
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