- Singapore expanded GST InvoiceNow e-invoicing from 1 April 2026: businesses voluntarily applying for GST registration must use InvoiceNow-compatible solutions to transmit specified invoicing data to IRAS.
- InvoiceNow uses the Peppol standard and requires reporting of transactions reflected in GST returns, including certain sales, purchases, exempt and zero-rated transactions.
- The requirement will be rolled out in phases, with planned extension to all GST-registered businesses between April 2028 and April 2031, covering about 90,000 additional businesses.
- Singapore is also promoting tax incentives tied to digitalization, technology adoption, and AI/innovation projects.
- Multinational businesses should assess system readiness, GST InvoiceNow timelines, and available incentives for digital transformation investments.
Source: auxadi.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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