Navigating Singapore’s e-Invoicing Transition: A Guide for Financial Leaders and Technologists

Introduction of InvoiceNow: Singapore’s e-Invoicing initiative, centered around the InvoiceNow mandate, aims to enhance tax transparency and efficiency. The system operates on a Peppol-based five-corner model that facilitates real-time reporting and compliance with the Inland Revenue Authority of Singapore (IRAS).
Phased Implementation Timeline: The e-Invoicing rollout includes voluntary adoption starting May 2025, followed by mandatory adoption for newly incorporated GST registrants in November 2025 and for all voluntary registrants by April 2026. Existing GST-registered businesses will face compulsory onboarding at a later date.
Operational Considerations for Businesses: Companies must prepare for the transition by integrating with Accredited Service Providers (ASPs) to ensure compliance, managing data retention, and adopting the PINT SG format for invoices. Proactive engagement with the evolving regulatory landscape is crucial for successful implementation and avoiding penalties.

Phase	Effective Date	Requirement
Voluntary Adoption	May 2025	Businesses can opt in to InvoiceNow
Mandatory for New GST Registrants	November 2025	Newly incorporated GST-registered businesses must onboard
Mandatory for Voluntary Registrants	April 2026	All voluntary GST registrants must adopt InvoiceNow
Mandatory for Existing GST Businesses	Date TBD	Compulsory onboarding to be announced later