This blog was last updated on July 24, 2024
The Inland Revenue Authority of Singapore (IRAS) has announced the implementation of a phased adoption of InvoiceNow, the national e-invoicing framework based on the Peppol network, for GST registered businesses starting voluntarily in May 2025. The mandate will cover B2B transactions only, as the government is expected to make B2G mandatory in the coming years.
What is InvoiceNow?
InvoiceNow is a nationwide e-invoicing initiative by The Infocomm Media Development Authority (IMDA) for SMEs and large enterprises to streamline their invoicing for a faster and more sustainable way to transact, nationwide and worldwide.
What’s the timeline?
Singapore’s nationwide e-invoicing network was first announced in 2019 and has recently been referred to as InvoiceNow. The mandate will require GST registered businesses to use InvoiceNow solutions to transmit invoice data to IRAS. The transmission of invoice data to IRAS will be done through Peppol Access Point (AP) service providers, extending the traditional four corner e-delivery model to a fifth corner model.
The mandate will be implemented in phases, as follows:
- From 1 May 2025, for voluntary early adoption by GST-registered businesses, as a soft launch.
- From 1 November 2025, for newly incorporated companies that register for GST voluntarily.
- From 1 April 2026, for all new voluntary GST-registrants.
Even though an implementation timeline for all businesses has not been shared yet, further updates are expected in the future.
Sovos is here to help
Saphety Level – Trusted Services, S.A is an IMDA-certified Peppol service provider in Singapore. Our regulatory experts can connect to the InvoiceNow network on your behalf.
