Goods and Services Tax Act (Chapter 117A): Governs GST registration requirements, tax invoice requirements, and GST calculation and disclosure. Essential for ensuring tax compliance in invoice format and content.
Income Tax Act (Chapter 134): Covers revenue recognition and documentation requirements for tax purposes. Ensures invoices meet tax reporting and record-keeping standards.
Companies Act (Chapter 50): Specifies business identification requirements and corporate documentation requirements. Ensures proper company details are included in invoices.
Electronic Transactions Act (Chapter 88): Addresses validity of electronic invoices and digital signature requirements. Important for electronic invoice issuance and storage.
Limitation Act (Chapter 163): Sets time limits for debt recovery (6 years for contractual debts) and statutory limitations on claims. Important for payment enforcement terms.
Contract Law (Common Law principles): Covers formation of contract, terms and conditions, and payment obligations. Provides legal framework for invoice enforceability.
IRAS Guidelines: Establishes record keeping requirements, invoice format requirements, and mandatory information to be included on invoices as per tax authority standards.
Personal Data Protection Act 2012: Regulates handling of personal information and data protection obligations. Ensures compliance in collecting and storing customer data.
Consumer Protection (Fair Trading) Act: Applies when dealing with consumers rather than businesses, establishing fair trading requirements and consumer rights.
