- The Inland Revenue Authority of Singapore (IRAS) has announced phased adoption of InvoiceNow for GST registered businesses starting voluntarily in May 2025
- InvoiceNow is a nationwide e-invoicing initiative by The Infocomm Media Development Authority (IMDA) for SMEs and large enterprises
- The mandate will cover B2B transactions only initially, with B2G transactions expected to become mandatory in the future
- The mandate will require GST registered businesses to use InvoiceNow solutions to transmit invoice data to IRAS through Peppol Access Point (AP) service providers
- The implementation will be done in phases, starting with voluntary early adoption in May 2025 and extending to all new voluntary GST-registrants by April 2026.
Source: sovos.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.
