France is now moving towards continuous transaction controls (CTCs), introducing mandatory e-invoicing coupled with e-reporting.
The trend towards CTCs is global, and France is one of many countries to join this journey. As with previous CTC reforms in other countries, fiscal and economic gains are expected for both the government and businesses, such as:
- Fighting fraud and bridging the VAT gap (€10 – 15 billion per year in France)
- Reducing invoice processing costs for companies
- Monitoring the economic activity in the country
- Increase efficiency
- Automating part of the VAT reporting process
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