Is Belgium now the next country in Europe to enter the Continuous Transaction Controls (CTC) race? The forerunners were Spain, Portugal and Italy, who started using CTCs a few years back, either with mandatory e-invoicing via a central business-to-business (B2B) exchange system, or with real-time electronic VAT reporting. Then, France, Poland and Serbia started limbering up and announced a series of plans and schedules for introducing CTC B2B e-invoicing mandates.
According to PWC, Belgian Finance Minister Vincent Van Peteghem has confirmed his intention to make B2B e-invoicing mandatory by law. This was prompted by a desire to reduce Belgium’s VAT gap, valued at round about 4 billion Euros for 2018 (see VAT GAP Report 2021).
Source Seeburger
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