E-INVOICING REGISTRATION GRANT (ERG)
The E-Invoicing registration grant is a new scheme from IMDA in partnership with ESG to help businesses to digitalize. As businesses look for digital solutions to enable their staff to work remotely this grant will directly assist the business to enable e-invoicing features on their existing or new solutions, allowing their finance staff to work remotely and create a network effect so all participating businesses can benefit from improved efficiency and reduced cost and be paid in a timely manner.
This grant provides businesses with a one-time payment of $200 per UEN, upon first registration to the E-Invoicing Network on or before 31 December 2020. This grant is applicable for businesses which valid, active and registered in Singapore on or before 25 March 2020. Payment will be disbursed by PayNow Corporate to the registered UEN (without suffix).
No application is required for the grant. Participants who qualify will receive the payout automatically provided they have complied with the above.
For assistance with Corporate PayNow registration please approach the participating banks of PayNow Corporate found at https://abs.org.sg/consumer-banking/pay-now
Frequently asked questions
What is e-invoicing? How do I register on the network?
Please visit www.imda.gov.sg/einvoice to find out more about the nationwide e-invoicing network and how you can participate. SMEs can join the nationwide e-invoicing network by subscribing to Peppol-ready solutions approved by IMDA. Please visit www.imda.gov.sg/einvoice to check whether your accounting/ERP solutions are Peppol-ready, and sign up one if you don’t already have an accounting or ERP solution.
What is this grant about?
The one-time grant of $200 is to encourage every organisation to join the nationwide e-invoicing network early and benefit from operational efficiency and reduced cost via digitalisation. It will be used to offset the small incremental cost for in adopting Peppol-ready accounting/ERP solutions.
Who qualifies for this grant of $200? Is my organisation eligible?
The grant is applicable to organisations who have a valid and active Unique Entity Number (UEN) which will be used for the registration on the network. UENs eligible for the 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, the organisation needs to be incorporated by 25 March 2020 and registered on the network on or before 31 December 2020 to receive the $200 grant via PayNow Corporate.
Why is the grant only for organisations with UENs? Why can’t a self-employed person without a UEN claim this grant?
Only an organisation with a valid UEN can register on the nationwide e-invoice network. Hence only organisations with UENs qualify for this grant.
How does an organisation claim this grant? When can the organisation get the grant? Who will the organisation get it from?
There is no need to claim the grant. The first 50,000 organisations who successfully register on the network on or before before 31 December 2020 will automatically receive the payout via PayNow Corporate. Should the attempt to send the payment to the PayNow Corporate account fail, we will make 2 more attempts in the subsequent 2 months. This will give the organisation sufficient time to register their PayNow Corporate account (without suffix).
Why must the organisation have a PayNow Corporate without suffix to receive the payout? Why can't the organisation receive the payout using other modes?
IMDA would like to encourage an easy and common payout mechanism based simply on UEN for organisations. This will encourage a streamlined process and minimise errors.
When can I receive the payment?
IMDA is working towards a monthly payment cycle starting not later than June 2020. Look out for more information on this at www.imda.gov.sg/einvoice in the Apr or May 2020.
How can I check if I have been paid?
You can check your bank account for the payment a month after registering. You can also check the payment status on a website to be provided in due course. Look out for more information on this at www.imda.gov.sg/einvoice in the Apr or May 2020.
Does it cost anything for my organisation to register?
There are several options to join the nationwide e-invoicing network depending on the requirement of the organisation. There is a list of Peppol-ready solutions providers approved by IMDA to cater for the different needs of the organisation. There are also free solutions for those who need only basic features. Visit www.imda.gov.sg/einvoice to find out more.
My organisation is already on the nationwide e-invoicing network. Do we get to enjoy the grant?
Yes, as long as you meet the criteria.
What if the organisation changes his E-invoicing service provider after getting the $200 grant?
The organisation will not be required to return the $200 grant if he changes his service provider.