top of page
Search

The "Wait and See" Era is Over: IRAS Just Expanded the GST InvoiceNow Mandate to EVERYONE 🚨

  • Writer: Agnes Lee
    Agnes Lee
  • 1 day ago
  • 2 min read

The Big Shift in Singapore's Tax Landscape

If you run a GST-registered business in Singapore, the runway to digitize just got much shorter. IRAS has officially confirmed that by 2031, every single GST-registered business will be legally required to transmit their invoice data directly to IRAS via the InvoiceNow network.


If you have been holding off on upgrading your accounting software, it is time to make a move. Here is the fast breakdown of what is happening and how to get government funding to fix it.


The Timeline: When Do You Need to Comply?

IRAS is rolling this out in phases based on your revenue. Instead of a giant deadline, find your tier here:

  • 1 Nov 2025: Already active for newly incorporated companies voluntarily registering for GST.

  • 1 Apr 2026: Mandatory for all new voluntary GST registrants (regardless of incorporation date).

  • 1 Apr 2028: Existing businesses with annual supplies ≤ $200,000. (Yes, they are starting with the smaller SMEs first!)

  • 1 Apr 2029: Existing businesses with annual supplies ≤ $1 million.

  • 1 Apr 2030: Existing businesses with annual supplies ≤ $4 million.

  • 1 Apr 2031: Existing businesses with annual supplies > $4 million.


Why Do You Need GST InvoiceNow?

Introduced by IMDA, InvoiceNow is Singapore’s nationwide e-invoicing network based on the Peppol standard. Here is why it is becoming the mandatory standard:

  • System-to-System Efficiency: It transmits invoices in a structured digital format directly to your client's accounting software. This eliminates manual data entry, reduces errors, and speeds up payments.

  • Automated Tax Reporting: To support IRAS’s digitalization efforts, InvoiceNow-Ready solutions automatically transmit your invoice data to the government, drastically reducing your manual GST preparation work.

  • Phased Legal Mandate: It is no longer optional. All GST-registered businesses will be required to comply in phases. Upgrading early ensures your operations remain compliant and uninterrupted when your deadline hits.


Recognizing that this is a major operational shift for SMEs, the government has introduced comprehensive financial support initiatives to facilitate a smooth and cost-effective transition:

  • The Transition Grant: SMEs can claim up to $1,000 to offset the initial implementation costs of adopting an InvoiceNow-Ready solution.

  • Complimentary Solution Packages: Eligible businesses can access free InvoiceNow-Ready software packages, available until March 2031.

  • Productivity Solutions Grant (PSG): Businesses can leverage up to 50% in PSG funding to comprehensively upgrade and automate their existing accounting infrastructure.


The Apscom Solutions Action Plan

My sharpest advice? Do not wait until your deadline year. When mandates kick in, software vendors get booked out, and businesses panic.


You need an accounting system natively built for this. At Apscom Solutions, we ensure your software—whether you use ABSS or SQL Account—is IMDA-accredited and InvoiceNow-Ready. We set everything up so your invoices flow securely to your clients and directly to IRAS with zero manual double-entry.


Let's get your finance team ahead of the curve. Reach out to Apscom today, and let's claim those grants before the compliance rush begins!




 
 
bottom of page