- 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
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