Business proposal | June 2016 | SAF

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SAF-T in small and medium enterprises

From January 2017, companies from the small and medium enterprise sector will be obligated to implement and apply uniform control files. In practice, the Standard Audit File for Tax (SAF-T) implementation process constitutes a challenge for businesses both in regard to the technical integration of accounting systems with software used to generate SAF-T as well as in regard to ensuring the reliability and completeness of data that is provided using SAF-T.

Advisory services in regard to SAF-T implementation and application 

Comprehensive general advisory services 

SAF-T implementation requires an understanding of the business activity of the entity as well as of the IT systems that are used to gather and process accounting and tax data in order to be able to plan and design an optimum solution. In relation to the above, the scope of the basic advisory services that we can provide in regard to SAF-T implementation includes:

  • becoming acquainted with the nature of the business activity and business transactions concluded by the entity
  • understanding the IT systems that are used by the entity as well as their mutual relations
  • mapping the accounting system to SAF-T structures created on the basis of accounting and tax data
  • support in regard to the implementation of IT solutions aimed at the timely and reliable preparation
    of SAF-T’s
  • performing tests regarding the compliance of accounting data with SAF-T data
  • support in the preparation of monthly SAF-T reports
  • providing data to tax authorities.

Specific areas

Compilation of accounting data

The proper generation and sending of SAF-T reports requires specifically assigning accounting data to the appropriate SAF-T reporting positions. For this purpose, we propose the following solutions:

  • source and database analysis,
  • support in regard to assigning individual groups of data to the appropriate SAF-T reporting positions,
  • testing the compliance of accounting data with SAF-T data.

Aggregation and integration of accounting data

The preparation of SAF-T reports in the case of entities doing business within a multiple location structure using separate accounting databases or different accounting systems constitutes a significant challenge in regard to the correctness and completeness of SAF-T data. In relation to this, we offer support in regard to:

  • the introduction of solutions aimed at the regular and systematic aggregation of the data of branches and other organisational units
  • the transformation of the combined data to a uniform format
  • the preparation of SAF-T reports containing the combined data of the entire organisation
  • the verification of the correctness of the transformed and aggregated data with accounting data.

Transition period

In light of the time consuming nature of the implementation as well as potential initial irregularities in the operation of IT systems that generate SAF-T reports, we meet the needs of entities in which the system implementation process was not completed within a period that allows for the submission of the first reports at the beginning of 2017. Our services in regard to the above include:

  • the aggregation, compilation, and integration of data from accounting systems
  • the preparation of SAF-T reports during the transition period using our IT tools
  • the verification of the consistency of the accounting data with SAF-T reports
  • the sending of the reports to tax authorities in accordance with the deadlines and frequency required by the provisions of the law.

Benefits

The advisory services that we provide in regard to SAF-T will allow for:

  • the satisfaction of the legal requirements that will be in effect from January 2017
  • ensuring the proper operation of the system
  • the ongoing monitoring and introduction of change to the system for the purpose of adapting it to new formal or business requirements
  • ensuring the completeness and correctness of the data in the SAF-T reports that are sent to the tax authority
  • the verification of the consistency of data between the accounting system and the SAF-T report
  • the timely sending of SAF-T reports to tax authorities.