in three months i.e. from January 1, 2017, companies classified to small and medium enterprises will be obligated to implement and apply Standard Audit File for Tax (SAF-T). In practice, the SAF-T implementation process constitutes a challenge for businesses both with regard to the technical integration of accounting systems with application generating data in SAF-T format and as regards ensuring the reliability and completeness of data included in SAF-T. Therefore, today is the high time to take a detailed analysis into consideration in order to plan and design an optimum solution regarding SAF-T implementation, in particular in connection with any necessary technical and structural changes in the accounting and IT environment assuring the reliability of accounting and tax data provided by SAF-T.
The above action ensure compliance with existing tax law and will help to avoid further discussion with tax authorities if the reported SAF-T data are not correct or not reported within the required time. Above all, it will reduce workload for the accounting department connected with increased burden of SAF-T implementation.
What is essential in SAF-T implementation? How to optimize the process? Please find out in the attached file. We are at your disposal to discuss any potential issues you are facing with this important change.
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