General information
To support adoption, the government will provide funding of up to S$1,000 for small and medium-sized enterprises (SMEs) and up to S$5,000 for larger businesses to help cover implementation expenses.
The mandatory adoption timeline is structured as follows:
- 1 April (year not specified in notice) – Deadline for new voluntary GST registrants to implement InvoiceNow.
- 1 April 2028 – Deadline for existing and new compulsory GST registrants with annual supplies up to S$200,000.
- 1 April 2029 – Deadline for GST-registered businesses with annual supplies up to S$1 million.
- 1 April 2030 – Deadline for businesses with annual supplies up to S$4 million.
- 1 April 2031 – Deadline for businesses with annual supplies exceeding S$4 million.
The phased rollout allows businesses to gradually transition to digital invoice reporting, prioritizing new registrants and larger taxpayers earlier in the process. The financial support aims to reduce implementation costs and encourage early adoption, while the staged deadlines provide businesses several years to align their accounting and invoicing systems with the Invoice Now infrastructure.
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