Israel Introduces Electronic Invoice Clearance Model
Israel Introduces Electronic Invoice Clearance Model. The Ministry of Finance of Israel has published the country’s economic plan for the years 2023 and 2024. One of the main objectives of the program is to combat fraud and tax evasion due to the use of illegal invoices in the country to avoid tax payments.
To achieve this, Israel proposes a model for sending invoices in electronic format and in real-time to the tax authority, known as CTC. The tax authority will validate the received invoices before they can be sent to the final recipient. This validation model is very similar to that of other countries such as Mexico or China.