Singapore
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About
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General
- Led by IMDA through the Invoice. Now network (based on Peppol framework).
- Benefits: Secure, real-time processing, reduced manual work, enhanced business interoperability.
- Standard Format: BIS Billing 3.0 UBL XML ensures seamless integration with accounting and ERP systems.
Implementation Timeline
| Date | Phase | Details |
| May 2018 | IMDA Appointed as Peppol Authority | IMDA appointed as the national agency to manage the Peppol network |
| January 2019 | Launch of InvoiceNow | Launch of InvoiceNow with 11 access points |
| January 2020 | Submission Channel | submission channel for vendors. |
| March 2020 | E-Invoicing Registration Grant | Announcement of the E-Invoicing Registration Grant to encourage adoption |
| September 2020 | Rebranding of InvoiceNow | Nationwide rebranding of the system to InvoiceNow. |
| September 1, 2026 | Receipt of E-Invoices | e-invoices (possibly deferred to December 1, 2026). |
Who Needs E-Invoices?
- B2B Transactions: Recommended for seamless operations and tax compliance.
- B2C Transactions: Enhances efficiency in retail and receipt management.
- Government Vendors: Mandatory for invoices to public agencies.
- MSMEs: Streamlines operations and reduces administrative workload.
E-Invoicing vs. E-Billing
| Aspect | E-Invoicing | E-Billing |
| Regulation | Tax compliance via IMDA regulations | Customer-focused billing and payments |
| Purpose | Real-time via Peppol | Not validated |
| System Integration | BIS Billing 3.0 UBL XML | Flexible, non-regulated formats |
| Archiving | Required for audits | Optional |
Key Features of Singapore’s E-Invoicing System
- Real-Time Validation: Automatic compliance checks through Peppol.
- Standardized Format: Ensures interoperability across systems using BIS Billing 3.0 UBL XML.
- Integration: Compatible with major accounting and ERP platforms
E-Invoicing Dataset
- Taxpayer IDs: Identification numbers for buyers and sellers.
- Goods and Services Info: Detailed descriptions, quantities, and pricing.
- Applicable Taxes: GST details and other levies as applicable.
- Standardized XML Format: Ensures uniformity and interoperability across all platforms.
E-Invoicing Across Transaction Types
B2B Transactions- Mandatory for taxable supplies.
- Enhances cross-border interoperability and GST compliance.
- Encouraged for GST-compliant digital receipts and accurate tax reporting.
- Mandatory for public procurement, ensuring transparency and compliance.
E-Invoicing Penalties
- Operational Challenges: Increased manual workload and inefficiencies.
- Lost Opportunities: Loss of government grants and delays in payment.
- Competitive Disadvantage: Falling behind digitally adapted businesses.
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