(IRAS) has announced Goods and Services Tax (GST) InvoiceNow Requirement

The Inland Revenue Authority of Singapore (IRAS) has announced that GST-registered businesses will be required to use InvoiceNow solutions to transmit invoice data directly to IRAS for tax administration purposes. This will be done in phases, starting with voluntary early adoption from May 2025. This initiative to drive nationwide InvoiceNow adoption, in collaboration with Singapore’s Infocomm Media Development Authority, aims to help businesses digitalise, improve efficiency, and fulfil their tax obligations more easily. Read full article here