Why does compliance-ready accounting matter?
Singapore businesses face tighter GST, InvoiceNow and corporate-filing obligations, making reliable records a high-stakes operational priority. This blog explains the local requirements that accounting software Singapore buyers must weigh and the AI Account features that support organised accounting data.
Compliance built for Singapore
According to IRAS, GST is charged at the prevailing 9 per cent rate. Compulsory GST registration applies when taxable turnover exceeds S$1 million.
ACRA's accounting standards guide lists Singapore Financial Reporting Standards (SFRS) and SFRS for Small Entities among ASC-issued frameworks. Select the framework that applies before preparing financial statements.
The GST InvoiceNow Requirement and your dates
IRAS describes InvoiceNow as Singapore's nationwide e-invoicing network, based on the Peppol standard. Under the GST InvoiceNow Requirement, businesses submit invoice data through InvoiceNow-Ready Solutions.
Implementation dates are:
- 1 November 2025: Existing registrants with annual supplies above S$20 million; separately, newly incorporated companies voluntarily registering within six months of incorporation
- 1 April 2026: Businesses applying for voluntary GST registration on or after this date
- 1 April 2028: New compulsory registrants and existing registrants with annual supplies of S$200,000 or less
- 1 April 2029: Existing registrants with annual supplies of S$1 million or less
- 1 April 2030: Existing registrants with annual supplies of S$4 million or less
- 1 April 2031: Existing registrants with annual supplies above S$4 million
For existing registrants, annual supplies use prescribed accounting periods ending in calendar year 2025. Confirm your implementation date with IRAS before planning your transition.
GST InvoiceNow Requirement phases
| Business profile | InvoiceNow start date |
|---|---|
| Annual supplies above S$20 million | From 1 November 2025 |
| New voluntary GST registrants | From 1 April 2026 |
| New compulsory registrants and annual supplies of S$200,000 or below | From 1 April 2028 |
| Existing registrants with annual supplies up to S$1 million | From 1 April 2029 |
| Existing registrants with annual supplies up to S$4 million | From 1 April 2030 |
| All remaining GST-registered businesses | From 1 April 2031 |
Filing deadlines you cannot miss
IRAS sets corporate income-tax filing deadlines. ACRA sets the annual corporate-filing timetable.
File Estimated Chargeable Income (ECI) within three months after the financial year end unless a waiver applies. IRAS waives ECI filing when annual revenue is S$5 million or below and ECI is nil. Form C-S (Lite), Form C-S and Form C are due by 30 November each year.
Non-listed companies must hold an annual general meeting within six months after the financial year end. File the Annual Return within seven months after the financial year end. Non-listed companies with share capital and an overseas branch register have eight months.
Key 2026 filing deadlines for a 31 December financial year end
| Filing | Deadline |
|---|---|
| ECI with IRAS | 31 March 2026 (within three months of FYE) |
| Annual general meeting | 30 June 2026 (within six months of FYE) |
| ACRA Annual Return | 31 July 2026 (within seven months of FYE) |
| Form C-S (Lite), Form C-S or Form C | 30 November 2026 (YA 2026) |
Currency and pricing in SGD
AI Account lists its prices in Singapore dollars (SGD). The Premium Plan costs SGD 99 per year. Its listed features include unlimited users, support and document uploads.
AI Account also lists a Customise Plan at SGD 1,000 per year. The Customise Plan includes unlimited companies. New users can sign up without a credit card and use every feature free for 30 days.
Local banking and cash management
The Banking & Cash module records bank activity and supports reconciliation. Bank Automation lets you upload bank statements and match transactions efficiently.
After upload, AI Account can find matching receipts, payments, invoices, bills or manual journals. Users can review unmatched items before completing reconciliation. Separate bank accounts are set up for different currencies.
How does AI Account handle e-invoicing and tax compliance?
AI Account brings e-invoicing and tax-configuration tools into its accounting workflow. For finance leads choosing accounting software Singapore, the practical result is one connected record for Peppol exchange and GST reporting. Peppol network integration supports standardised e-invoice exchange. The e-invoicing module can generate, send, receive and track e-invoices. It also helps prevent duplicate submissions.
Received e-invoices can be linked to existing entries or used to create new ones. Tax & Compliance lets users configure GST codes and report on an accrual or cash basis. You can also record GST rounding differences and process traceable batch adjustments.
AI Account is software. It organises data but does not file or certify on your behalf.
Bring your Singapore books into one compliant cloud platform
GST-ready, InvoiceNow-ready and priced in SGD, with unlimited usage for growing SMEs.
Frequently Asked Questions
Tommy Teo
Co-Founder
Tommy Teo is an AI Developer at AI Account Pte Ltd, specializing in AI-powered accounting and cloud-based financial solutions across Asia. He builds secure, scalable systems using PWA, SQL, and PHP to automate invoicing, reconciliation, reporting, and tax compliance, helping businesses simplify finance and stay compliant.
