IMDA releases information on grants to encourage GST InvoiceNow adoption

• Singapore is implementing a phased mandate for GST InvoiceNow, extending it to all GST-registered businesses between April 1, 2028, and April 1, 2031, starting with new and smaller businesses.
• To encourage adoption, financial support measures are available, including the GST InvoiceNow Transition Grant for SMEs (S$1,000)andlargerbusinesses(S$5,000), and the InvoiceNow Queen Bee Grant (up to S$25,000) for large enterprises.
• These grants aim to offset onboarding costs for subscribing to an InvoiceNow-Ready Solution Provider or connecting via an IMDA-accredited Access Point, with specific eligibility criteria and availability periods.

Source Thomson Reuters

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Briefing document & Podcast: Singapore’s E-Invoicing & E-Reporting Mandate (InvoiceNow) – VATupdate

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• See also
  • E-Invoicing/Real Time Reporting – What can you find on VATupdate.com
  • Worldwide Upcoming E-Invoicing mandates, implementations and changes – Chronological
  • Country Profiles on E-Invoicing, E-Reporting, E-Transport, SAF-T Mandates, and ViDA Initiatives

• Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
• Join the LinkedIn Group on ”VAT in the Digital Age” (VIDA), click HERE

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