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Navigating the global tax compliance landscape successfully is complex and resource-intensive. Countries worldwide now have specific and constantly evolving legislated e-invoicing requirements.
Non-compliance, intentional or not, can result in significant financial penalties, business disruption, and reputational damage.
PEPPOL has now issued the first edition of the Continuous Transactions Control (CTC) Reference Document and are inviting feedback from interested parties.
Governments around the world introduce CTCs to more effectively counter tax fraud and increase revenue. As part of introducing CTCs in their mandates, governments often require invoice data to be sent to tax authorities in real-time, or require invoices to be cleared by the government before they are paid.
Peppol’s document includes analysis from several implementations around the world. The document can be found via this link.