The Inland Revenue Authority of Singapore (IRAS) has mandated GST-registered businesses to adopt InvoiceNow, Singapore’s nationwide e-invoicing network developed by the Infocomm Media Development Authority (IMDA).
Key Implementation Details:
- Phased Rollout: The GST InvoiceNow transmission requirement will be implemented in stages, requiring businesses to submit invoice data directly to IRAS via the InvoiceNow network.
- Free Access Period: Qualifying businesses can leverage complimentary solutions until March 2027.
- Alternative Integration Paths:
- Commercial Solutions: Use IMDA-accredited InvoiceNow-Ready Solution Providers (IRSPs) for accounting/finance software. Businesses may claim up to SGD 30,000 via the Productivity Solutions Grant (PSG) for eligible IT expenditures.
- In-House Systems: Integrate via IMDA-approved Access Point Providers (APPs).
Support Resources:
Businesses can access detailed technical guidelines, solution provider listings, and compliance FAQs through:
“Adopting InvoiceNow streamlines tax compliance and reduces administrative overhead,” noted Karen Oh, Senior Content Management Analyst at Wolters Kluwer Tax & Accounting Asia Pacific. “The free solutions lower entry barriers for SMEs navigating this mandate.”
Sources: IRAS, 11 June 2025; IMDA, 19 May 2025. For technical specifications and accreditation lists, refer to official IMDA/IRAS portals.