To promote digitalisation amongst businesses, IMDA and Enterprise Singapore have partnered together to launch the E-Invoicing Registration Grant. As more companies are exploring digital solutions to enable their employees to work remotely, this grant will directly aid companies to provide for e-invoicing features on their existing or new solutions, so that their finance team can still perform efficiently while on-the-go. This will greatly enhance the entire payment ecosystem for businesses as a whole.
There will be a one-time payment of $200 for the first 50,000 companies that subscribe to this nationwide e-invoicing network. The first registration to the network must be made before 31 Dec 2020.
To qualify for this grant, companies will need to be incorporated before 25 Mar 2020. No application is required for the grant. Successful companies will receive the $200 payment automatically via PayNow Corporate.
Companies can register to the e-invoicing network simply by subscribing to Peppol-Ready Solutions (eg. Xero, ABSS or Deskera) that are approved by IMDA.
If you have yet to own any e-invoicing software, you may consider 2 of the most popular e-invoice ready software solutions in Singapore.
If you are already a current user of ABSS, simply upgrade your ABSS version to enjoy the convenience of e-invoicing and claim this E-invoicing Registration Grant too.
There are also 2 more government grants where you can apply to defray the cost of software, which includes 12 months of software subscription, system setup and personalized training.
- Productivity Solutions Grant (Up to 80% funding)
- Skills Future Enterprise Credit (Up to 90% funding)
If you already own either Xero or ABSS, please click the links below for the step-by-step registration guide,
Core Capabilities
Projects under Core Capabilities help businesses to prepare for growth and transformation by strengthening their business foundations. These go beyond basic functions such as sales and accounting.
Innovation and Productivity
Projects under Innovation and Productivity support companies that are exploring new areas of growth, or looking for ways to enhance efficiency. These include reviewing and redesigning of workflow and processes. Companies can also tap into automation and technology to enhance the efficiency of routine tasks.
Market Access
Projects under Market Access support businesses that are exploring to venture overseas. The EDG can help to defray some of the cost incurred when expanding into overseas markets.
*Note: As of 1 April 2020, all applications for EDG should include commitment to worker outcomes as part of the qualifying requirements. This will include wage increment, job creation, job redesigns or training for existing staff.
Qualifying project cost that is related to software and equipment, third party consultancy and internal manpower can be supported. As announced during the Supplementary Budget 2020, for the period 1 April 2020 to 31 December 2020, the maximum level of support will be enhanced to 80%. For businesses that have been very badly affected by the COVID-19 pandemic, the maximum level of support may even be raised to 90%, depending on a case-by-case review.
To qualify for EDG, companies must fulfil the following conditions: -Be registered and operating in Singapore -Have a minimum 30% local shareholding with Company’s Group annual sales turnover less than S$100 million, OR less than 200 employees -Be in a financially viable position to start and complete a project Should you require more information on the application process for the Enterprise Development Grant, please contact Woon at 9824 1643 or email woon@361dc.com.
