DSPANZ recently endorsed the European E-invoicing Service Providers Association’s (EESPA) A Next Generation Model for Electronic Tax Reporting and Invoicing along with Peppol and Verband elektronische Rechnung (VeR).
This document outlines a decentralised approach to electronic tax reporting and invoicing called the Decentralised CTC and Exchange Model (DCTCE). This model provides an exchange network that supports the adoption of efficient economy-wide electronic invoicing, closely integrated with the Continuous Transaction Controls (CTC i.e. solutions for the reporting, verification and delivery of invoices) functionality. It also creates an attractive value proposition for supporting global interoperability.
The document is the result of work undertaken by an international group of tax compliance and eInvoicing experts to help address the current diverse implementation of CTCs and avoid excessive complexity for tax administrations.
It’s mainly aimed at policy makers in countries that are seeking to modernise and digitise their tax and economic management that have not yet implemented CTCs. It’s also worth a read if you’re interested in learning more about the different eInvoicing and CTC models that are discussed in the document.
While we support this approach for revenue authorities who decide that Continuous Transaction Controls (CTC) is appropriate for their economies, we are not recommending this as a clearance or reporting model for Australia or New Zealand given our approach is not tax related.