Committee of Supply 2026 debate, Day 1: Jeffrey Siow on greater adoption of e-invoicing
All GST-registered businesses will be required to submit digital invoices to the Inland Revenue Authority of Singapore via InvoiceNow by April 2031, bringing 90,000 more firms on board the network. This will be done progressively, prioritising smaller businesses to give them better support in the transition. Companies will have access to a free suite of InvoiceNow-ready software solutions and new cash grants to defray operational costs. Senior Minister of State for Finance Jeffrey Siow said this in parliament on Thursday (Feb 26).
All GST-registered businesses will be required to submit digital invoices to the Inland Revenue Authority of Singapore via InvoiceNow by April 2031, bringing 90,000 more firms on board the network. This will be done progressively, prioritising smaller businesses to give them better support in the transition. Companies will have access to a free suite of InvoiceNow-ready software solutions and new cash grants to defray operational costs. Senior Minister of State for Finance Jeffrey Siow said this in parliament on Thursday (Feb 26).
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