Goods and Services Tax Act (Cap. 117A): Governs GST registration requirements, GST charging requirements (currently 8% as of 2023), and required GST details on invoices for GST-registered businesses
Income Tax Act (Cap. 134): Covers record keeping requirements, documentation requirements for tax purposes, and requirements for business income reporting
Electronic Transactions Act (Cap. 88): Regulates requirements for electronic invoices, digital signature validity, and electronic record keeping requirements
ACRA Requirements: Specifies business registration information requirements and company information display requirements as per Accounting and Corporate Regulatory Authority
Consumer Protection (Fair Trading) Act: Ensures pricing transparency and accurate description of goods/services in business transactions
Invoice Number Requirement: Mandatory unique identifier for each invoice for tracking and record-keeping purposes
Business Information Requirement: Mandatory display of business details including registration number, GST registration number (if applicable), and contact information
Payment Terms Requirement: Clear specification of payment terms, methods, and due dates on the invoice
Itemization Requirement: Detailed breakdown of goods/services provided, including quantities, unit prices, and total amounts
Date Requirement: Mandatory inclusion of invoice issue date and, where applicable, supply date
