- All GST-registered businesses in Singapore must send invoice data to IRAS via InvoiceNow by April 2031, with phased implementation based on business size and registration date.
- Implementation starts November 2025 for new voluntary GST registrants, with existing businesses phased in from April 2028 to April 2031 based on annual supplies.
- SMEs may receive grants up to S$30,000 for IT solutions and up to S$1,000 for operational costs; larger businesses can get up to S$5,000 for early adoption.
- IRAS will notify pre-2026 GST-registered businesses of their implementation dates by mid-2026.
- Businesses are advised to assess readiness, develop an implementation roadmap, and seek guidance on GST implications.
Source: ey.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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