The principles of a necessary harmonization

[nurmohammadkhan]

To address this highly complex situation, which could potentially undermine the benefits that Continuous Transaction Control systems are able to provide, the International Chamber of Commerce has drawn up a list of principles that should help make the implementation of CTC models more uniform.

But first a premise is needed.

The International Chamber of Commerce (ICC) is a private organization representing iceland whatsapp resource all sectors of business activity worldwide and working to “promote investment, the opening of markets for goods and services and the free movement of capital”.

Therefore, even if it is a private body, the ICC has absolute and recognized authority throughout the world, which allows it, among other things, to draft policies and establish standard rules for international trade to which all other states conform .

Therefore, the harmonization principles listed for national Continuous Transaction Control systems are not a theoretical exercise, but rather a very stringent indication that all countries must deal with.

Going into detail, the International Chamber of Commerce establishes that each implementation of national CTC solutions must respect the following values ​​(source ICCWBO.org) :

balance : each system must find a balance between the need to increase the efficiency of tax collection and the goal of maintaining high and constant growth;
efficiency : the solutions adopted must guarantee maximum harmonisation, interoperability, continuity and reliability intended for both public and private sector entities;
understandability : everyone must be able to understand exactly the reasons and benefits that are ensured by Continuous Transaction Control systems;
cooperation : checks carried out through CTC systems must be based on a common legal framework and a cooperative compliance regime so that any changes take place without upsetting the overall harmonisation context;
transparency : the requirements, deadlines and operating methods envisaged by your Customer Transaction Control system must be communicated by the competent authorities in such a way that they are understandable to all (in this sense it may be necessary to draft a clear and comprehensive guide);
privacy : all data that authorities or industry operators receive or handle through CTC systems are and must always be protected by the international regulations in force to protect privacy, data protection and security. After all, continuous controls do not mean invasive controls.
principle of least impact and non-discrimination : obviously the application and implementation of CTC systems must take place not only in compliance with the principles listed above, but also ensuring that the measures do not cause discrimination between service providers resident and non-resident in the country. In other words, a form of competition that is as fair as possible must be ensured, so that technologies can develop freely and meet the needs of each individual state.