All GST-registered firms face mandatory InvoiceNow shift by 2031

Funding of up to $5,000 will be provided to support the transition.

All goods and services tax (GST)-registered businesses will be required to onboard the InvoiceNow network and submit invoice data directly to the Inland Revenue Authority of Singapore (IRAS) by 2031.

Announced at the Ministry of Finance Committee of Supply (COS) Debate 2026, the initiative will roll out from April 2028.

Transitional funding will be provided to offset onboarding costs, with small and medium-sized enterprises (SMEs) eligible for up to $1,000 and larger businesses up to $5,000. SMEs can also access InvoiceNow-Ready solutions for free until Mar 2031.

From 1 April, all new voluntary GST registrants must submit their invoice data via the network, regardless of incorporation date or business structure, IRAS said in a press release.

The COS 2026 announcement extends the requirement to all remaining GST-registered businesses, bringing an estimated 90,000 more businesses onto the network.

The InvoiceNow network enables businesses to send and receive invoices in a structured digital format, based on the international Peppol standard.

Since 1 November 2025, newly incorporated companies that voluntarily register for GST have been required to transmit invoice data via InvoiceNow.

IRAS said over 63,000 businesses are currently in the network using services from accredited providers.

Follow the link for more news on

Inland Revenue Authority of Singapore

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia