Understanding Continuous Transaction Controls (CTC)

Continuous transaction controls (CTC) are a significant change in how tax authorities gather business transaction data, allowing real-time or near real-time collection directly from business processes. This improves over retroactive audits and reliance on taxpayer records. CTC models can influence e-invoicing, with centralized models making it mandatory and decentralized models simplifying data reporting. The shift towards real-time data collection offers benefits such as enhanced tax compliance and combating fraud and evasion.

Source Fintedu

Click on the logo to visit the website