VAT news tagged as "SAF-T"

United Kingdom

Digitisation of VAT Reporting

April 5th, 2018

European countries are increasingly demanding detailed electronic VAT transactional reporting from businesses to help them efficiently track tax due and reduce significant tax evasion. This includes: EU SAF-T; Making Tax Digital in the UK; live invoice reporting in Spain, Hungary and Italy; and Control Statements. Many countries have now introduced voluntary and mandatory transaction reporting …


Lithuania

Lithuania SAF-T July 2018

March 14th, 2018

Lithuania is to launch its delayed Standard Audit File for Tax (SAF-T) in July 2018. SAF-T was original introduced to the country in 2016 for invoice listings and transport documentation. But this was effectively just an e-invoice reporting requirement. The third requirement, SAF-T accounting transactions, was delayed from 1 January 2017. Initially, only resident companies …


Norway

Norway SAF-T delayed to 2020

December 31st, 2017

Norway is to introduce an on-demand mandatory Standard Audit File for Tax (‘SAF-T’) requirement for tax payers from 1 January 2020. The introduction of the electronic tax transaction data reporting had been scheduled for 2018. SAF-T has been a voluntary format for providing the Norwegian tax authorities with details of tax transactions since 2017. Norwegian …


Portugal

Portugal extends SAF-T 2018

December 15th, 2017

From 1 January 2018, all Portuguese businesses will be required to be able to produce on-demand an annual accounting submission in SAF-T format.  This information will support Corporate Tax audits and computations. This is in addition to the existing monthly SAF-T submission listing all sales and purchase invoices for VAT purposes. Standard Audit File for …


Norway

Norway SAF-T 2019 delay

November 6th, 2017

Norway looks likely to delay the January 2018 introduction of mandatory Standard Audit Files for Tax (SAF-T) until at least 2019. Currently, the production of Norwegian SAF-T files has been a voluntary obligation since January 2017. The plans were to make this mandatory from 1 January 2018.  Files would not be required with each VAT …


Poland

Polish SAF-T for all businesses 1st Jan 2018

November 1st, 2017

From 1st January 2018, the mandatory requirement to submit Standard Audit Files for Tax (SAF-T) for all Polish VAT registered entities will be extended to all companies. SAF-T submission are due at the same time as the monthly or quarterly VAT return, and must be submitted by the 25 of the month following the reporting …


Norway

Norway SAF-T Jan 2018

October 25th, 2017

Norway is on course to introduce Standard Audit File for Tax (SAF-T) reporting obligations from 1 January 2018.  The detailed, electronic transaction reporting requirement, adopted across many European countries, will provide the tax authorities with details of VAT transactions for audit purposes.  Initially, companies will only be required to present SAF-T submissions to the tax authorities …


Portugal

Portugal SAF-T update

June 15th, 2017

Portugal has issued an update SAF-T standard.  It contains two changes: The XSD schema for invoices and delivery notes The Taxonomies which identify the codes with the correspondence tables to identify accounts The Standard Audit File for Tax was introduced into Portugal in 2008, and become mandatory on a monthly basis in 2013.


Poland

Poland extends SAF-T to bank accounts

June 3rd, 2017

Poland has proposed extend its existing Standard Audit File for Tax (SAF-T) VAT transaction reporting obligations to include daily bank transactions. The proposed implementation date is 1 September 2017.  The obligation to prepare and submit the submissions would fall on banks – not the tax payer directly. However, non-resident Polish VAT registered businesses would have to …


Lithuania

Lithuania SAF-T compulsory Oct 2016

August 25th, 2016

From 1 October 2016, Lithuania launches a new portal (i.MAS) for the compulsory submission of SAF-T reporting for VAT registered businesses. Standard Audit Files for Tax (SAF-T) is a data protocol for the efficient transfer of taxable transaction data between taxpayers and the tax authorities. It was developed by the OECD, and has now been …