- Inland Revenue Authority of Singapore (IRAS) announced adoption of InvoiceNow for GST-registered businesses
- Phased adoption starting from May 2025
- Exclusions for overseas entities and businesses under Reverse Charge regime
- Required transmission of invoice data for specific transactions
- Invoice data must be transmitted before GST return filing deadline
- Businesses expected to continue preparing and filing GST returns on time
- Infocomm Media Development Authority (IMDA) will publish list of InvoiceNow solutions connected to IRAS
- Support from IMDA to help businesses with cost of adopting InvoiceNow
Source: globaltaxnews.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.
