- Israel has delayed the implementation of its Continuous Transaction Controls (CTC) regime from January 1, 2024 to allow businesses more time to develop their technology.
- The new invoicing model will require businesses engaged in B2B transactions above a certain threshold to obtain an allocation number, without which they will not be able to deduct input VAT.
- The Israeli Tax Authority has extended the deadline for input tax deductions until March 31, 2024, but the clearance platform will still be fully operational from January 1, 2024.
- Invoice issuers who request allocation numbers will receive them from this date.
Source Sovos
Click on the logo to visit the website
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
Latest Posts in "Israel"
- Israel Doubles VAT-Free Personal Import Limit to $150 to Combat Cost of Living
- Israel’s Finance Ministry Proposes 19% VAT Hike in 2026 Amid Rising Deficit and Opposition
- Israel Mulls VAT Hike to Fund Defense; Netanyahu, Smotrich Urge Caution Amid Budget Pressure
- Israel Unveils Comprehensive Tax Reform Targeting High-Tech Sector and International Compliance
- Israel Proposes Major Tax Reforms for High-Tech Sector, Including VAT and Capital Gains Exemptions
