Transaction controls imposed by tax authorities play a critical role in ensuring the integrity and compliance of financial transactions. The historical approach with periodic transaction controls has long served as the foundation for monitoring and regulating financial compliance, offering a structured and systematic way to assess and enforce regulations. Periodic Transaction Controls have been pivotal in providing tax authorities with a consistent framework to detect discrepancies and maintain regulatory oversight. However, there is a gradual shift towards Continuous Transaction Controls, driven by the demands of global trade and the rise of digital commerce.
Source Fonoa
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