Singapore is introducing mandatory e-invoicing and direct tax data reporting to improve tax compliance, requiring businesses to modernize their accounting systems. A phased rollout begins in May 2025, and companies must adapt to real-time tax reporting to stay compliant and avoid audit risks.
Singapore’s Move Towards E-Invoicing and Digital Tax Reporting
Public
Other countries
Author: Ivana Picajkić
Category:
General subject related
Views:
865
Content accuracy validation date:
28.03.2025
Content accuracy validation time:
08:13h
Singapore has built a strong digital government system, and businesses are now expected to follow suit with tax reporting. Currently, GST-registered businesses file quarterly returns manually via IRAS’ myTax Portal. However, planned changes will introduce mandatory electronic invoicing (e-invoicing) and direct tax data reporting to improve tax compliance.
E-invoicing automates invoice data exchange between vendors and customers, reducing manual processes. While Singapore introduced the InvoiceNow network in 2019, it did not include tax reporting. In 2024, IRAS and IMDA announced a phased rollout of an upgraded e-invoicing system, requiring businesses to report transaction-level data directly to IRAS. A pilot launch begins on May 1, 2025, with gradual expansion over the following years.
Businesses must adapt their accounting and billing systems to support real-time tax data transmission. They may face initial costs for system upgrades and integration, choosing between in-house solutions, ERP add-ons, or third-party providers.
Many businesses still rely on manual tax processes, risking errors and inefficiencies. With tax authorities gaining access to real-time transaction data, businesses need to modernize their tax functions to avoid compliance risks and stay ahead of audits. Investing in automation will help businesses align with Singapore’s digital tax transformation.
Other news from Other countries
South Africa Proposes Major VAT Reforms to Modernize Tax System
Public
Other countries
Author: Ljubica Blagojević
Other countries
Author: Ljubica Blagojević
South Africa’s 2025 draft TLAB and TALAB propose major VAT reforms to modernise the system and close compliance gaps. Key changes include extending intermediary rules to local suppliers, zero-rating silver exports and clinical trial services, exempting all basic education supplies (forcing some schools to deregister), removing low-value import thresholds, and tightening VAT registration with site... Read more
South Africa Releases VAT Draft to Advance E-Invoicing and Digital Reporting
Public
Other countries
Author: Ljubica Blagojević
Other countries
Author: Ljubica Blagojević
South Africa's National Treasury and Revenue Service introduces e-invoicing, e-reporting, and an interoperability framework to modernize the VAT system. On August 16, 2025, South Africa’s National Treasury and Revenue Service released a draft amending the VAT Law, introducing definitions for e-invoicing, e-reporting, and an interoperability framework to modernize the VAT system. E-invoicing... Read more
New Zealand’s e-Invoicing Mandate: A Concise Overview
Public
Other countries
Author: Ema Stamenković
Other countries
Author: Ema Stamenković
New Zealand is transitioning to e-invoicing as a standard, driven by the global Peppol Network and the regional PINT A-NZ specification. The Ministry of Business, Innovation and Employment (MBIE) oversees the adoption, with central public agencies required to receive e-invoices since March 2022. From January 2026, agencies processing over 2,000 domestic invoices annually must send and receive e-in... Read more
Malaysia Introduces 2025 Tax Reforms: E-Invoicing Rollout
Public
Other countries
Author: Ljubica Blagojević
Other countries
Author: Ljubica Blagojević
Malaysia's tax authority has introduced new tax measures and compliance requirements for 2025, including mandatory e-invoicing for taxpayers with annual income between 5 and 25 million ringgits, increased support for MSMEs, and a new tax handling branch. On August 22, the Malaysian Tax Authority published e-Bulletin No. 4/2025, which detailed a number of new tax laws and compliance standards for 2... Read more
Indonesia Reforms Digital Tax Collection for E-commerce
Public
Other countries
Author: Ljubica Blagojević
Other countries
Author: Ljubica Blagojević
Between May and July 2025, Indonesia introduced major reforms to strengthen e-commerce and digital tax collection. PERPRES-68/2025 creates a state-backed system to collect VAT on overseas digital sales, PMK-37/2025 appoints qualifying domestic and foreign platforms (PPMSE) as Article 22 income tax collectors with a 0.5% withholding on sellers’ revenue, and PER-12/2025 tightens VAT reporting and re... Read more
Colombia 2026 Tax Reform Proposal
Public
Other countries
Author: Ema Stamenković
Other countries
Author: Ema Stamenković
Colombia's Ministry of Finance proposes tax reforms for 2026 budget, aiming to raise COP 26.3 trillion, including reduced VAT rates for hybrid vehicles, increased financial sector surcharges, and reduced personal income tax. On September 1, 2025, Colombia’s Ministry of Finance submitted a tax reform bill to Congress for the 2026 budget, aiming to raise COP 26.3 trillion. The bill reforms VAT... Read more
China VAT Rebate Policy Update 2025
Public
Other countries
Author: Ljubica Blagojević
Other countries
Author: Ljubica Blagojević
China's State Tax Administration and Ministry of Finance have revised the VAT credit rebate policy to boost fiscal revenue. The policy now allows full refunds for four key industries: manufacturing, scientific research and technical services, software and IT services, and ecological protection and environmental management. Other sectors, including real estate, face partial refunds, requiring busin... Read more