Singapore Tax Agency Extends E-Invoicing Implementation Deadlines for GST-Registered Businesses

The Singaporean Inland Revenue Authority of Singapore Feb. 26 announced extended deadlines for GST registrants to implement InvoiceNow for submitting invoice data electronically. The announcement includes: 1) transitional funding for onboarding costs, from up to S$1,000 (US$785) for small and medium-sized enterprises (SMEs), to up to S$5,000 (US$3,924) for larger businesses; 2) the April 1 implementation deadline for new voluntary GST registrants, regardless of incorporation date or business structure; 3) the April 1, 2028, implementation deadline for existing and new compulsory GST-registrants with total annual supplies up to S$200,000 (US$156,953); 4) the April 1, 2029, implementation deadline for existing GST-registered ...