Continuous Transaction Controls: Tax Compliance and What You Need to Know

Continuous Transaction Controls (CTCs) are mechanisms that require taxpayers to submit real-time or near real-time transaction data to tax authorities. Unlike Periodic Transaction Controls (PTCs), which involve reporting periodically, CTCs involve immediate reporting. Over 70 countries have implemented some form of CTC, with the trend expected to grow by 2030. CTCs are expanding beyond invoicing to include various business documents and processes, impacting how businesses manage tax compliance.

Source Fonoa