Singapore to Mandate InvoiceNow for B2G E-Invoicing
Tuesday 21st March, 2023
In February, Singapore’s Senior Minister of State, Mr. Chee Hong Tat announced that within the next few years, InvoiceNow will become the default e-invoice submission channel for all the Government’s vendors.
Singapore has been implementing the InvoiceNow program since 2019 as an extension of the Peppol E-Delivery Network with the Infocom Media Development Authority.
In May 2018, Singapore became the first Peppol Authority outside of Europe. Other countries that have followed this move include, New Zealand, Japan and Australia.
Although issuing electronic invoices is currently not mandatory for either B2B or B2G transactions, it appears that the InvoiceNow program and Peppol will be utilised for a B2G e-invoicing mandate in the near future. However, it was not announced a specific schedule of implementation or roll-out dates. According to Sovos blog piece.
InvoiceNow is a nationwide E-invoicing method operating on the Peppol network that facilitates the direct delivery of invoices in a structured digital format.