- IRAS announced a GST InvoiceNow implementation timeline for Singapore.
- Voluntary e-invoice transmission for GST-registered businesses starts May 1, 2025.
- Full implementation for other companies by April 1, 2026.
- Guidelines detail requirements for using the InvoiceNow solution.
- Businesses must transmit standard-rated, zero-rated, and exempt supplies.
- Exclusions include reverse charge supplies and goods exported without sales.
- Due dates align with GST return filing dates.
- InvoiceNow system includes validation checks to prevent errors.
- Businesses should assess readiness and system alignment with requirements.
- Ensure availability of mandatory data elements and correct GST treatment.
Source: vatabout.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.
