- Singapore’s IRAS has updated GST InvoiceNow guidance as the country moves toward mandatory e-invoicing for all GST-registered businesses by 1 April 2031.
- The rollout is phased: new voluntary GST registrants from 1 Apr 2026, compulsory registrants and small existing GST businesses from 1 Apr 2028, then larger existing businesses through 1 Apr 2031.
- IRAS expanded support grants, including SGD 1,000 for SMEs, SGD 5,000 for larger businesses, and up to SGD 25,000 under the InvoiceNow Queen Bee Grant.
- Businesses must transmit data for most taxable and exempt supplies and purchases, but some items like reverse charge transactions and import permits are excluded.
- Invoice data must be submitted by the earlier of the actual GST filing date or the statutory deadline; some overseas and reverse-charge-only registrants are excluded.
Source: regfollower.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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