Why is Singapore requiring businesses to change the way they issue invoices? IRAS introduced GST InvoiceNow to improve the accuracy and timeliness of GST reporting by replacing manual invoice submission with the electronic transmission of structured invoice data. The phased rollout also aims to reduce manual processing and simplify GST administration for businesses and IRAS.…
Singapore is shifting towards a fully digital GST compliance system through InvoiceNow, the national e-invoicing network built on the PEPPOL standard. It enables businesses to exchange structured invoice data electronically, improving efficiency, accuracy, and transparency in tax reporting. Under the GST InvoiceNow Requirement, GST-registered businesses must use InvoiceNow-ready solutions to transmit invoice data to IRAS.…
Singapore’s corporate compliance framework has become more stringent following the commencement of key provisions under the ACRA Corporate and Accounting Laws (Amendment) Act 2025 in May 2026, which include stricter enforcement of directors’ duties, with penalties of up to S$20,000 and imprisonment of up to 12 months for serious breaches. As a result, businesses that…
Singapore is rapidly moving toward a fully digital tax and invoicing system, & InvoiceNow is at the centre of this transformation. According to IMDA updates, more than 60,000 businesses are already connected to InvoiceNow, reflecting steady nationwide adoption of Peppol-based e-invoicing across SMEs and larger enterprises. This foundation is now being extended into GST compliance…
Corporate tax filing is a mandatory annual compliance requirement for all companies in Singapore under the Inland Revenue Authority of Singapore (IRAS). For the Year of Assessment (YA) 2026, all companies must file their Corporate Income Tax Return by 30 November 2026, including companies with no income or business activity. Singapore’s corporate tax system is…
According to the Accounting and Corporate Regulatory Authority (ACRA), company incorporation in Singapore is now routinely completed within 24 hours through BizFile+, with new registrations processed at a pace that highlights both demand and system efficiency in 2026.
Singapore is widely recognised for its ability to facilitate company incorporation with remarkable speed, which is as little as one business day, but what happens after registration is far more critical. The Singapore certificate of incorporation, issued by ACRA, is a key document that serves as proof of incorporation and is often required for bank…
Can a foreign entrepreneur truly control a Singapore company without living in Singapore, or does compliance quietly dilute control before the business even begins? Many foreign-owned companies formed in Singapore are incorporated without a founder based locally. Still, each one must meet a fixed legal requirement set by the Accounting and Corporate Regulatory Authority: every…