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Singapore adopts PEPPOL Standard for e-invoicing

Tuesday 22nd May, 2018

Singapore has announced that it will be implementing the Pan-European Public Procurement On-Line (PEPPOL) e-invoicing standard. This move makes Singapore’s Infocomm Media Development Authority (IMDA) the first national PEPPOL authority outside of Europe and the first National Authority in Asia to adopt the standard.

The PEPPOL standard is best positioned to meet Singapore’s domestic needs while having an international outlook as it is an open standard that intends to bridge interoperability across competing business solutions, provides clear technical and legal frameworks at national and international levels. It is also a single and standardised means of issuing and receiving e-invoices with others on the network.

As Singapore’s PEPPOL Authority, IMDA will set rules and specifications that meet Singapore’s domestic requirements, as well as appoint and certify service metadata publishers and Access Point (AP) providers. It will also ensure conformance to the PEPPOL technical and service standards.

Mr Tan Kiat How, Chief Executive of IMDA, said, "IMDA is proud to be the newest PEPPOL Authority, the first outside of Europe and first in Asia. Common standards such as PEPPOL are crucial for businesses to benefit from an increasingly digital and interconnected global economy. By adopting PEPPOL as a nationwide e-invoicing standard, IMDA is helping businesses in Singapore to benefit from digitalisation and better position them to plug into the international marketplace."

According to Mr Evan Law, Chief Executive of the Singapore Accountancy Commission, “with e-invoicing, accounting and finance departments can expect productivity gains from the automation of invoice generation and processing, as well as better data-driven insights into the business”.