Singapore: The InvoiceNow e-Invoicing Project

InvoiceNow: Singapore’s New e-Invoicing Model

Singapore is moving toward an e-Invoicing model that requires GST-registered businesses to transmit invoice data to the Inland Revenue Authority of Singapore (IRAS). The InvoiceNow rollout and implementation timeline are being introduced gradually, making it important for affected organizations to review their accounting systems and document exchange processes well in advance.

InvoiceNow uses the Peppol network to exchange structured electronic invoices directly between the sender’s and recipient’s systems. Its evolution toward a five-corner Peppol CTC model also brings IRAS into the flow, alongside the businesses and their respective Access Points. This architecture allows companies to exchange invoices with their recipients while reporting the relevant invoice data to the tax authority as part of an integrated process.

The transition involves more than simply replacing paper invoices or PDFs. Complying with e-Invoicing requirements in Singapore means generating invoices in the PINT SG format, connecting through an accredited Access Point, and integrating invoice issuance and receipt with the ERP. This helps reduce manual data entry, errors, and delays that can make reconciliation and payment tracking more difficult.

This video provides a concise overview of how InvoiceNow works, the role of Peppol, and the data exchange flow with IRAS. It is particularly useful for companies operating in Singapore that need to understand the technical implications of the model and assess how to automate their transition.