Bulgaria and Serbia are in an “exploratory”

[nurmohammadkhan]

As already mentioned in a previous article, the European context is rather complicated, since there is no regulatory framework of reference that harmonizes the various CTC systems that the states have implemented.

For example, the Eastern European bloc of countries has started its own implementation path , with different modalities depending on the country (Source: Sovos):

Slovakia is aligning itself with the Hungarian and Spanish models, in order netherlands whatsapp resource to reduce the current VAT gap (now at 20%) and obtain real-time information on transactions: to do this, Slovakia will require companies to report relevant data to the authorities before issuing the invoice through certified accounting software. Their business counterparts will then have to do the same, indicating the invoices received.

Phase, which should end with the adoption of an e-invoicing system through an official or third-party platform. To be precise, Serbia is further along, having already enacted a law that outlines the rules for issuing e-invoices in B2B and B2C contexts, e-invoicing requirements and archiving, as well as setting the obligation of digital transmission and digital signature for many documents. What is still missing, however, is the actual implementation, which will have to wait until 2023.

Romania appears to be one of the countries most lagging behind and in greatest need, having one of the largest VAT gaps in Europe; for this reason, it is working to adopt a digital tax control system based on the Standard Audit File for Tax.
On the contrary, Croatia was one of the first countries to implement the CTC system and have real-time control of transactions. The interesting thing is that in the Croatian model, citizens have an active role in validating receipts through a certified online platform (for this reason, a QR Code was imposed on invoices that can be registered simply by framing them).

The common thread running through all these approaches to Continuous Transaction Control in Europe is to make controls more effective and immediate, so as to make their tax system more competitive, reducing tax avoidance and evasion.