- Israel Tax Authority approved the Continuous Transaction Control (CTC) model for their tax system as part of the 2023-2024 economic plan.
- They will assign confirmation numbers to B2B transaction invoices digitally.
- A unique number will be allocated online for tax invoices with a value exceeding NIS 25,000, in a descending outline over five years, starting from January 1, 2024.
- It will be mandatory to receive an allocation number for invoices in the prescribed amounts, and a tax invoice without an approved allocation number will not be allowed to deduct input tax.
- The Tax Authority can refuse to allocate a unique number to invoices if there is a reasonable doubt that they are not issued legally.
Source Taxbackinternational
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