SINGAPORE — Suppliers of goods and services billing the government of Singapore will need to submit their invoices electronically starting May 1 as part of a plan seeking to extend the reach and quality of e-services, the Ministry of Finance said.
The system enabling suppliers to submit their invoices to ministries and statutory boards via a common online portal will “enhance the efficiency” of transactions, a ministry statement said on Wednesday.
Citing the benefits, the ministry said, “Suppliers can expect prompt payment in accordance with agreed terms.”
“E-Invoicing eliminates the risk of misplacement of hardcopy invoices,” it noted.
Briefings have been conducted with suppliers to facilitate the phasing in of the system. There will be a transition period of six months until October.
“A small group of suppliers who may face practical constraints in doing e-Invoicing” are excluded from the system at this stage, the ministry said.
They include vendors registered or located overseas, newspaper delivery agents, bus operators and canteen operators.