- Continuous Transaction Controls (CTCs) are shaping the future of tax compliance
- CTCs require businesses to submit transaction data to tax authority systems on an ongoing basis
- CTCs differ from traditional post-transaction tax reporting systems
- CTCs involve transmitting business activity data directly to government platforms
- Governments enforce CTCs to increase transparency and eliminate tax evasion
- CTCs lead to increased tax revenue, reduced tax fraud, and informed economic policy
- Compliance with e-invoicing regulations varies by country
- The core process of CTCs involves e-invoice generation, submission, validation, decision, and issuance.
Source: sovos.com
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See also
- E-Invoicing/Real Time Reporting – What can you find on VATupdate.com
- Worldwide Upcoming E-Invoicing mandates, implementations and changes – Chronological
- Collection of E-Invoicing Guides – Worldwide – VATupdate
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
