Singapore and New Zealand Prime Ministers Announce eInvoicing Memorandum of Agreement

New Zealand’s Prime Minister Christopher Luxon and Singaporean Prime Minister Lee Hsien Loong announced on Monday, 15 April 2024, the signing of the eInvoicing Memorandum of Agreement (MoA). This agreement signifies the commitment of both parties to collaborate and promote initiatives that facilitate the adoption of eInvoicing by businesses. Specifically, the agreement aims to:

• Promote Infrastructure Support: Enhance the underlying infrastructure to facilitate seamless eInvoicing processes.
• Increase Awareness and Capacity: Create awareness among businesses and build their capacity for adopting eInvoicing practices.

The Info-communications Media Development Authority of Singapore (IMDA) and the Ministry of Business, Innovation and Employment (MBIE) of New Zealand have a well-established working relationship. Regular meetings are conducted with counterparts from Australia, Japan, Malaysia, and Singapore to exchange information, discuss common interests, and explore initiatives promoting eInvoicing adoption in the Asia-Pacific (APAC) region.

The MoA strengthens the existing cooperation between Singapore and New Zealand and formalizes MBIE's partnership with IMDA. It is in alignment with a similar agreement between the Australian Tax Office (ATO) and IMDA.

MBIE and IMDA have recognized the opportune moment to enhance their collaboration and emphasize the importance of establishing standardized practices within the APAC region and among key trading partners.

SOURCE:

• Singapore and NZ Prime Ministers announce eInvoicing Memorandum of Agreement | eInvoicing