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    • Israel Announces A New Plan For e-Invoicing
    19
    Jun

    Israel Announces A New Plan For e-Invoicing


    Israel Announces A New Plan For e-Invoicing. Under the 2023/2024 State budget plan, Israeli authorities have announced that they are moving towards a Continuous Transaction Controls (CTC). A new announcement stating implementation plan of the CTC model has been published. According to the announcement; in B2B transactions, invoices  above NIS 25,000 (around Euro 6,250) must be submitted to the tax authority in real-time and obtain approval. With the implementation of the CTC model, for invoices in the prescribed amounts, obtaining an allocation number from the tax authority will be mandatory. Additionally, without allocation approval, a tax invoice will not be able to deduct the input tax.

    The launch of CTC model implementation is scheduled as January 2024.The threshold will be reduced to NIS 5,000 (around Euro 1,300)  by 2028.


    Essentia Global Services – European / International / Global vat tax compliance consultants and management agents.
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    We are specialists in global indirect tax management. We help businesses to manage their worldwide compliance with respect to VAT/GST and similar taxes, effectively and economically. Essentia Global Services – European / International / Global vat tax compliance consultants and management agents. Essentia also provides VAT Training Courses and an EU VAT Number Lookup Platform. VAT Global Management & International VAT Registration.