Continuous transaction controls (CTC) are being adopted by governments to strengthen their economies by reducing tax evasion. CTC enables tax authorities to collect real-time or near-real-time data on business transactions, as opposed to relying on retroactive audits. This helps address inefficiencies and reduces dependency on historical evidence. Various CTC models, such as Interoperability, Real-time reporting (RTR), Clearance, and Centralized exchange (CE), are being implemented around the world. Additionally, Peppol and Peppol CTC / DCTCE, as well as “Hybrid” models, are also being used in different regions. This shift towards CTC obligations and finance automation is a response to the realization that using paper invoices as the principal means for recording and reporting business transactions leads to tax revenue loss.
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- See also
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