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Exceed compliance requirements with InvoiceAgility

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Invoicing in Singapore Highlights

Singapore’s tax compliance is overseen by the Inland Revenue Authority of Singapore (IRAS), with a GST rate of 9% (effective January 2024). E-invoicing is not mandatory but encouraged under the Peppol framework since 2021 to streamline B2B transactions.

Requirements Snapshot

Tax Overview

  • Tax Type: GST (Goods and Services Tax)

  • Tax Authority: Inland Revenue Authority of Singapore (IRAS)

  • Current tax rates: Standard rate: 9% (effective January 2024)

  • Currency: Singapore Dollar (SGD)

Archival Overview

  • Legal archiving period: 5 years

  • Archive Location: Not regulated, storage abroad allowed under conditions

e-Signature Overview

  • e-Signature required: Not required but recommended

Business-to-Business (B2B)

  • Model: Centralized clearance model via InvoiceNow

  • e-invoicing obligations: Mandatory from November 1, 2025

  • B2B invoicing Government Platform: InvoiceNow

  • Invoice issuance requirements: Via Accredited Access Points (AP) with PINT SG capability

  • Invoice reception requirements: Via Accredited Access Points (AP) with PINT SG capability

  • B2B invoice formats: PINT SG, Peppol BIS

Business-to-Government (B2G)

  • e-invoicing obligations: Mandatory since 2019

  • B2G invoicing Government Platform: InvoiceNow

  • Invoice issuance requirements: Via Peppol

  • Invoice reception requirements: Via Peppol

  • B2G invoice formats: PINT SG, Peppol BIS

International trade process diagram showing foreign supplier in UK and buyer in Spain, with detailed AR/AP processes, tax invoice flow, shipping documentation, and port procedures including export/import licenses and tariff handling.
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