Singapore Encourages the Use of E-Invoicing With Peppol

Singapore is continuing its drive to promote e-invoicing with the aim of helping companies improve efficiency, reduce costs, streamline payment cycles and minimise environmental impact.

The country launched its national e-invoicing network in 2019, based on the PEPPOL infrastructure, making it the first country outside Europe to use the European network to exchange e-invoices between private enterprises. The connection of governmental bodies to the PEPPOL network in 2020 has extended e-invoicing in Singapore to B2G.

The government is also offering an E-Invoicing Registration Grant, which makes companies that register with PEPPOL via a certified service provider this year eligible to receive a subsidy of 200 Singapore dollars.

About PEPPOL in Singapore

Pan-European Public Procurement Online, or PEPPOL, is a set of specifications designed to streamline public procurement processes between companies and governmental bodies regardless of their location or the systems they use. Thanks to its versatility and international scope, it isn’t only being adopted in Europe or the B2G sector, but is being used to exchange e-documents between entities of all kinds globally.

In 2018, the government of Singapore decided to develop its e-invoicing system using European standards and PEPPOL infrastructure with the aim of promoting international commerce.

The country’s PEPPOL authority, IMDA, is responsible for assigning access points and defining technical specifications for the e-invoicing system.

Companies that would like to invoice electronically in Singapore must have an accredited access point and an e-invoicing system capable of sending invoices in the PEPPOL standard.

EDICOM is an accredited access point recognized by Singapore’s PEPPOL authority, IMDA. EDICOM’s global invoicing platform integrates fully with your ERP and allows you to send and receive e-invoices to and from any agency or company in Singapore.

Original Article