Israel’s economic plan for 2023 to 2024 has been published by the Ministry of Finance. Israel’s e-Invoicing program includes provisions for combating fraud and tax evasion, for which it prescribes a model known as continuous transaction control (CTC) to allow invoices to be sent to the tax authority electronically and in real time. With this model, received invoices will be validated before being sent to the final recipient. The model will be introduced starting January, 2024.
- How does the CTC model work?
- What is the implementation timeline of the system?
- What is the allocation number and its function?
- How are issued e-Invoices transmitted to the tax authority?
- Will there be an archiving period for the invoices?
Source: SNI
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