GST InvoiceNow – Understanding the Requirement in Singapore
Singapore continues to make strides toward digitalisation, and a key development in this journey is the GST InvoiceNow Requirement. This initiative, jointly driven by the Inland Revenue Authority of Singapore (IRAS) and the Infocomm Media Development Authority (IMDA), aims to streamline the way GST-registered businesses handle invoicing and tax compliance through a secure, standardised network known as InvoiceNow.
A. Introduction:
What is InvoiceNow?
It is Singapore’s nationwide e-invoicing network based on the global Peppol standard. Managed by IMDA, this infrastructure allows businesses to transmit invoices directly from one system to another in a structured digital format, ensuring greater efficiency, accuracy, and interoperability.
Since its launch in 2019, it has evolved significantly. Notably, in February 2024, it was upgraded with the PINT-SG Specification, enhancing its capacity for both cross-border transactions and alignment with GST submission requirements.
The GST InvoiceNow Requirement: An Overview
The requirement mandates the digital transmission of invoice data to IRAS via InvoiceNow-Ready Solutions. Businesses must ensure their systems can support this requirement, either through upgrades or by adopting pre-approved service providers.
B. Implementation Timeline:
Phase Date Requirement Summary
Soft Launch & Early Adoption 1 May 2025 Voluntary adoption by existing and new GST applicants.
Initial Implementation 1 Nov 2025 Mandatory for newly incorporated companies applying for voluntary GST registration.
Full Implementation 1 Apr 2026 Applies to all new voluntary GST registrants. Certain exceptions apply.
C. Types of invoice submission: There are four types
Type 1A Submission:
Supply Transaction made within InvoiceNow Network (i.e., Peppol Invoice) (refer IMAGE 1):
Supply transaction made by the supplier within the InvoiceNow network
For a supply transaction made within the InvoiceNow network (e.g., where both the GST-registered supplier and the c