Revenue Authority phased 2025 – 26 InvoiceNow Peppol e-invoice reporting
The Inland Revenue Authority of Singapore (IRAS) has reconfirmed 7 March 2025 the phased voluntary introduction of e-invoice data reporting via InvoiceNow network to the IRAS. This enables Peppol-based structured invoice transmission between businesses, and transmit invoice data to IRAS before the next GST return date – a 5-corner e-invoice model. The launch timetable for domestic-only businesses is:
- 1 May 2025, for voluntary early adoption by GST-registered businesses, as a soft launch.
- 1 November 2025, for newly incorporated companies that register for GST voluntarily.
- 1 April 2026, for all new voluntary GST-registrants
The IRAS’ InvoiceNow network is based on Peppol, and was introduced in 2019 enables businesses to easily send and receive invoices in a structured digital format. There are a number of routes to report on InvoiceNow:
- InvoiceNow-Ready Solutions, which are off-the-shelf accounting packages. InvoiceNow-Ready Solutions will be connected to IRAS through Access Points (AP). IMDA will publish the list of InvoiceNow-Ready Solutions that are connected to IRAS by May 2025.
- Businesses adapting their ERP systems
Invoices that are not issued using InvoiceNow (e.g. for sales made via point-of-sale systems) should also be recorded in InvoiceNow-Ready Solutions and sent to IRAS.
Dec 2023 Inland Revenue Authority confirms Peppol InvoiceNow adoption for B2G
Following a successful trial on its InvoiceNow e-invoicing platform in October, the Singaporean IRA has confirmed the adoption of Peppol e-invoicing standard for B2G transactions.
One of the key successful aims of the pilot was to test if InvoiceNow could be updated from its exiting 4-corner model to a 5-corner with Peppol. The IRA adopted Peppol in
InvoiceNow will become the compulsory platform for B2G e-invoicing – today it is only mandatory.
The pilot trial has yielded positive findings. Besides productivity savings from digitalising invoicing, businesses can benefit from easier GST compliance, potentially fewer audits and faster GST refunds. IRAS now plans to work with IMDA, the Accountant-General’s Department, and businesses to increase the adoption of InvoiceNow for GST administration.
Besides domestic transactions, InvoiceNow also supports cross-border transactions with businesses in jurisdictions that are connected to the PEPPOL network.
Feb 2023: B2G e-invoicing to be mandatory on ‘InvoiceNow’ Peppol-based regime
The Singaporean government has announced plans to mandate B2G e-invoicing via its InvoiceNow platform. No clear deadline has been provided – all though almost all B2G transactions are already processed via InvoiceNow.
Singapore was the first country outside of Europe to adopt the Peppol standard in 2019.
InvoiceNow is currently a voluntary service provided by the government for businesses to use to facilitate the exchange of structured invoices. It operates as and interoperable e-invoicing framework on the open standard Peppol network. It is available to any business with Peppol-enabled invoicing systems. Any e-invoices are only exchanged between the parties – no information is sent to the Inland Revenue Authority. Invoices on InvoiceNow are considered a tax invoice, and are accepted by the Inland Revenue for the purposes of GST deductions.
B2C invoices are outside of the scope of InvoiceNow.
Our international live VAT invoice transaction and e-invoice tracker on real-time transaction-based tax reporting lists all the countries imposing transaction-based reporting.
