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Israel announces its intention to adopt CTC as part of an economic plan

09 June 2023
Israel

As part of their economic plan for 2023-2024, the Israeli government has opted to introduce a continuous transaction control model. Israel wishes to prevent the issuance of falsified invoices used to avoid proper taxation pertinent to standard transactions in Israel and has designated CTC implementation to address this.   The initiative is planned to begin on 1 January 2024, with the tax authority opting to assign confirmation numbers to invoices at the time of their issuance. The preliminary scope of transactions subject to the controls is those with values over NIS 25.000 (ca. EUR 6500,00).   This will be a...