- Private companies and tax administrations have been discussing continuous transaction controls (CTC) since 2018 under the International Chamber of Commerce (ICC).
- In 2020, the group released a set of principles and practices to improve tax reporting while reducing complexity and costs for taxpayers.
- The publication, “Practice Principles for Implementation of Continuous Transaction Controls,” has become a beacon for digitization in numerous countries.
- The group has now found a new home in CIAT to continue their work.
- CTCs have helped with tax compliance and reduced operational costs for taxpayers. Different taxpayers face different challenges with CTCs, and the new CIAT Digitalization Dialogue group aims to exchange ideas and continuously improve relationships among stakeholders.
- The group welcomes participants from various sectors and will have a mailing list available on September 7.
Source Ciat.org
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