The Israeli Tax Authority (ITA) has postponed the implementation of the mandatory e-Invoicing schedule which was set to start from January 1 2024. According to the ITA, due to the ongoing state of war, the obligation has been postponed to April 1, 2024. Because of their recognition as “another document” tax invoices bearing a date between January 1, 2024 and March 31, 2024 can be deducted as input tax, without an allocation number. The allocation number is normally integrated into the electronic invoice for validation and deduction of input VAT.
The current updated timeline is as follows :
- April 2024 – above 25,000 NIS
- January 2025 – above 20,000 NIS
- January 2026 – above 15,000 NIS
- January 2027 – above 10,000 NIS
- January 2028 – above 5,000 NIS
As part of the comprehensive economic plan set for the fiscal year 2023-2024, a visionary and forward-thinking proposal has emerged – the Continuous Transaction Control (CTC) model for electronic invoice processing. Under this groundbreaking paradigm, invoices, once submitted, will undergo a meticulous validation process administered by the tax authority before being routed to their ultimate recipients. The impetus behind this transformative approach is to fortify the financial integrity of Israel’s economy by proactively combatting the production and dissemination of counterfeit invoices. It is with unwavering determination that Israel embraces the CTC implementation, as it holds the key to the realization of this pivotal goal.