Electronic invoicing in Singapore
Electronic invoicing is already a crucial part of business operations in Singapore. Through the national network known as InvoiceNow, many companies are obligated to issue and receive invoices in a structured digital format. Understanding the rollout, formats, administrative requirements and archiving regulation is essential to guarantee compliance.
Characteristics of Electronic Invoicing in Singapore
Singapore is leading the way towards total invoicing digitization. Its national framework for electronic invoicing is based on the Peppol international standard and operates over the InvoiceNow network, administered by the Infocomm Media Development Authority (IMDA).
InvoiceNow is the national electronic invoicing platform in Singapore. It is designed to allow the direct interchange of structured invoices between accounting systems or ERPs without the need for manual intervention.
The companies that wish to use electronic invoicing tools in Singapore must have a Peppol Access Point. Edicom is accredited by the Infocomm Media Development Authority (IMDA) as an Access Point on Peppol in Singapore. This allows us to connect your business directly on the InvoiceNow network, providing all the technical and legal requirements for compliance.
Mandatory Use
As of January 2019, both businesses and public organisms can issue and receive electronic invoices, with the objective of improving efficiency, reducing costs, and speed up payment cycles.
Key Dates
- January 2019: Launch of the national electronic invoicing network InvoiceNow.
- April 15th, 2024: IRAS announces the roadmap for mandatory adoption by companies registered under the GST.
- May 1st, 2025: Voluntary adoption begins for companies registered under the GST.
- November 1st, 2025: New companies registering on the GST must comply with the InvoiceNow mandate.
- April 1st, 2026: All registered companies on GST must use InvoiceNow.
Invoice Format
The required format in Singapore consists of:
- SG Peppol BIS Billing 3.0, is a standard structure based on Peppol.
- The invoices are sent over the Peppol network using an Access Point accredited by the IMDA.
- Other documents are also accepted such as purchase advice and invoice responses (to indicate status).
Electronic Signature
It is not mandatory under the InvoiceNow framework. However, it can be useful to add a delegated signature for security and traceability reasons.
Electronic Archiving
Documents must be archived for a period of at least 5 years, in a legible electronic format, secure yet accessible. This applies to both inbound and outbound invoices. The system must guarantee integrity, authenticity, and traceability of the documents.
Process of issuing electronic invoices
InvoiceNow is based on the international Peppol standard, which allows a secure, automated, and standardized delivery method of fiscal documents.
InvoiceNow will adopt the 5-corner model within the Peppol CTC (Continuous Transaction Controls) framework. Unlike the traditional 4-corner model, where documents flow between the issuer, the receiver, and the different Access Points, the 5-corner model introduces a 5th actor: the fiscal authority.
The structured invoices (on PINT SG Format) are sent through the Access Points to the final recipient and in parallel a copy is sent directly to the IRAS (Inland Revenue Authority of Singapore), which provides fiscal control in real-time.
Through EDICOM's Access Point you will be able to:
- Automatically generate invoices on the SG Peppol BIS Billing 3.0 / PINT SG Format.
- Issue invoices directly to local or international clients connect on the Peppol network.
- Send a copy to the IRAS when the CTC model is finally activated.
Latest in our resource center
One Platform. Endless Solutions.
Contact our specialists to answer all your questions about adapting your business to any EDI, e-invoicing and tax reporting system worldwide.
Proprietary SaaS solutions
International customer support service
99.9% guaranteed availability
Managed services
International certifications and standards
Flow maintenance and integration services
Let's talk!