Regulatory updates - Singapore

The data to be transmitted covers all data on invoices or equivalent documents that serve as bills for payment (or adjustments of bill for payment) for supplies and purchases made. Businesses must transmit data on standard, zero-rated, and exempt supplies and purchases reported in GST returns.

The GST InvoiceNow Requirement adoption will initially be voluntary in May 2025, followed by mandatory participation implemented progressively in phases:

• From November 1, 2025, newly incorporated businesses must start transmitting invoice data to the IRAS through an Accredited Access Point;
• From April 1, 2026, all new voluntary GST registrants must start transmitting invoice data to the IRAS through an Accredited Access Point.

Service providers wishing to operate in Singapore must undergo an extensive accreditation process to be certified by the Infocomm Media Development Authority (IMDA) as Accredited Access Points.

On April 1, the IMDA published all Accredited Access Points on its website, listing Pagero as an Accredited Access Point Provider.

This accreditation allows Pagero to offer a compliant solution to international and domestic businesses operating in Singapore.

Following the announcement of the Singapore GST InvoiceNow Requirement, the IMDA released the PINT updates and outlined the implementation timelines at the Peppol access point meeting in July.

Starting 1 April 2025, it is mandatory for all InvoiceNow network participants within the Peppol framework to at least have the registration for the PINT SG capability to receive invoices. On the other hand, service providers must support sending and receiving PINT SG, including invoices and credit notes, beginning January 2025.

Peppol specifications update in May 2024

New Element:

• Added UUID field to capture the document identifier when creating the tax invoice and credit note

New Business Rules:

• Added new GST rule to ensure the UUID information is available in the tax invoice and credit note
• Added GST rules to ensure the supplier and customer postal address information (address line 1 and postal code) is available in the tax invoice and credit note
• Added new GST code to handle different GST scenarios.

Peppol specifications upcoming update in November 2024

New Business Rules

• Add GST rules to ensure the supplier UEN information is available in the tax invoice and credit note
• Add GST rules to ensure the supplier and customer meet the tax credit note requirements (Note field and Preceding invoice field)

The IMDA has released the InvoiceNow Technical Requirements (version 1.1), which includes technical guidance and the invoice data submission process flow required for suppliers and buyers.

The Inland Revenue Authority of Singapore (IRAS) API is estimated to be released in September.

Singapore has implemented InvoiceNow to encourage businesses to issue and receive invoices via Peppol electronically. Peppol has been a default invoice exchange mechanism for B2G transactions. Now, one more document type is supported by the Singapore public entities.

The Invoice Response document is accessible now for e-invoices sent to AGD’s Peppol ID. B2G suppliers registered with the Invoice Response document can receive real-time invoice status updates via their accredited service provider, eliminating the manual work of monitoring e-invoice status on the Vendors@Gov portal.

Additionally, if e-invoices are not successfully delivered to the government’s systems, businesses will promptly receive an email notification within 3 working days.

Pagero is an accredited service provider in Singapore and has fully supported the Invoice Response document.