In partnership with Enterprise Singapore (ESG), IMDA has launched the E-Invoicing Registration grant, a new scheme that would help encourage businesses to embark on digitalisation. This grant will provide assistance to businesses as they look for efficient digital solutions for remote working. E-Invoicing Registration Grant enables companies to add e-invoicing features on their existing or new solutions. Through the help of this new scheme, the finance team can work remotely and effectively, resulting in enhanced productivity and reduced cost.
Frequently Asked Questions on E-invoicing Registration Grant
1. What is the grant about?
The E-invoicing Registration Grant provides enterprises with a one-time payment of $200 per Unique Entity Number (UEN). This is to encourage businesses to join the nationwide e-invoicing and to help reduce the small incremental cost brought by the adoption of Peppol-ready accounting/ERP solutions.
2. Who is eligible for this grant?
Any business that has a valid and active UEN is eligible for this grant.
Valid UENs for this grant include:
- UENs of businesses and local companies registered with ACRA and entity-type UENs
- Exclude foreign military units
- Government and Government-Aided schools
- High commissions, consulates, international organizations registered with MFA
- PA Services, Grassroot Units
- Government agencies and bodies performing public duties
To qualify for the E-invoicing Registration Grant, the company should be incorporated before 25 Mar 2020 and registered on the e-invoicing network on or before 31 Dec 2020.
3. How does a company claim this grant?
The first 50,000 companies who have registered on the e-invoicing network on or before 31 Dec 2020 will no longer have to claim the grant. They will automatically receive the payout via Paynow Corporate under their registered UEN.
Peppol-Ready Solutions: Qualified Software for E-invoicing
By subscribing to Peppol-ready solutions approved by IMDA, enterprises can easily register to the e-invoicing network. The qualified software for e-invoicing includes:
Current users of ABSS can also benefit from e-invoicing by simply upgrading their ABSS version. They can apply for the E-invoice Registration Grant as well.
Government Grants for Enhanced Business Processes
For businesses who are looking out for ways to lessen software cost, there are various government grants that offer funding support for software subscription.
70% Grant on Your Accounting Software
Eligible SMEs can apply for grant up to 70% for IRAS-compliant accounting software.