1. InvoiceNow Transaction Bonus (ITB)
Grant Amount: $200 per business
To qualify, the organisation needs to send a total of 10 e-invoices on the InvoiceNow network.
How to Apply?
- Complete a one-time registration at this form to receive payout status and other InvoiceNow related matters from IMDA: www.go.gov.sg/register-itb
- Find your business customers on the SG Peppol Directory and retrieve their Peppol ID information (www.peppoldirectory.sg).
- Send an e-invoice directly from your solution to your business customer on the network.
- Receive your bonus via PayNow Corporate, no claim is required.
You will receive the bonus automatically based on monthly transaction reports submitted by Access Point providers.
- Send first e-invoice: receive $50
- Send remaining 9 e-invoices: receive another $150
Who can Apply?
Applicable to all businesses on the InvoiceNow network who have a valid and active business Unique Entity Number (UEN).
Criteria
- Has to be completed within 12 months from the 1st e-invoice to receive the $200 bonus via PayNow Corporate.
- 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.
Grant Amount: $30,000 per enterprise
To qualify, the enterprise has to connect its own ERP/finance solution to the InvoiceNow network.
No application is required. To receive payout, enterprises will be required to submit:
- Contract/agreement between the enterprise and its vendor(s) including Access Point Providers showing the work started after 1 Nov 2022.
- Supplementary artefacts showing activities in the checklist (e.g. data mapping, data transformation, system integration and testing).
- List of active business partner UENs.
The grant is applicable to organisations who have a valid and active business Unique Entity Number (UEN).
- Enterprise has a minimum of 200 business counterparties (aggregate of B2B customers and suppliers).
- Enterprises interested in this grant are strongly encouraged to register their interest at https://go.gov.sg/register-leadgrant to receive help from IMDA in planning and meeting of eligibility criteria.
- IMDA may contact the enterprise to arrange for verification of claim and demonstration of the system.
- Enterprises who complete integration of their own finance/ERP solution to the InvoiceNow network within 12 months from the start of the work, and before 31 Oct 2024.
- The commencement of the implementation effort needs to be on or after 1 Nov 2022.
- Enterprises which had received the LEAF Chain Leader grant claims will not be eligible.
- Enterprise must have PayNow Corporate Account.
- UENs eligible for the grant include UENs of businesses and local companies registered with ACRA and entity-type UENs. This excludes 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.
