Goods and Services Tax Act: Primary legislation governing GST in Singapore, including tax rates (currently 8%, increasing to 9% in 2024) and general taxation requirements for commercial transactions
Sale of Goods Act: Regulates the sale of goods between parties in Singapore, including contract formation, rights, and obligations in sales transactions
Contract Law (Application of Law) Act: Determines the application of contract law in Singapore, providing the legal framework for commercial agreements
Electronic Transactions Act: Governs electronic transactions and digital signatures, relevant for electronic invoicing and record-keeping
IRAS Invoice Requirements: Mandatory elements for valid tax invoices including supplier details, GST registration number, invoice number, date, customer details, and itemized pricing
Record Keeping Requirements: Statutory requirement to maintain invoice records for minimum 5 years under Singapore law
Consumer Protection (Fair Trading) Act: Protects consumer interests and ensures fair trading practices in commercial transactions
Currency Requirements: Specifications for currency presentation and exchange rate declarations in invoices for international transactions
Language Compliance: Requirement for English as primary business language in official documentation
Payment Terms Requirements: Legal framework for payment terms, including maximum payment periods and late payment penalties under Singapore commercial law
