- The Standard Audit File for Tax (SAF-T) is an international standard developed by the OECD to facilitate the exchange of tax and accounting information between companies and tax authorities, aimed at simplifying tax reporting and enhancing compliance.
- Several countries, including Bulgaria, Ukraine, Denmark, and Poland, have implemented or are in the process of introducing SAF-T reporting, often with phased approaches and varying requirements, while countries like France and Luxembourg utilize SAF-T on-demand during audits.
- While SAF-T promotes transparency, businesses face challenges such as managing complex data requirements, adapting to different national regulations, integrating with e-invoicing systems, and ensuring their IT systems can generate compliant SAF-T files, necessitating robust tax technology solutions for effective compliance.
Source Innovate Tax
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