- Electronic invoicing is important for business management in the digital era
- Different countries have different electronic invoicing models based on their regulatory, economic, and technological needs
- Two main data collection methods are Post-Audit and CTC (Continuous Transaction Controls)
- Post-Audit models involve invoices being sent directly between issuer and recipient without prior approval from tax authorities
- CTC models require electronic invoices to be sent in real-time to the national tax authority
- CTC model allows authorities to collect data on business activity in real-time
- Post-Audit models offer operational flexibility but require accurate record-keeping for subsequent audits
- CTC models ensure compliance and operational efficiency through real-time data collection.
Source: edicomgroup.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
