What is SAF-T in Austria?
Austria introduced its own Standard Audit File for Tax, or SAF-T, in 2009.
With the decree of 20 March 2009, BMF -010102 / 0002-IV / 2/2009, the previously permissible data formats were expanded to include the XML format in the form of the SAF-T. The SAF-T is developed by the OECD. It contains transactional data exported from an accounting system. Both the data format and content are specified by the XML Schema Definition (XSD).
Businesses are currently not obliged to transmit the report periodically (monthly or annually), but it is required on demand prior to a tax audit by the Austrian Ministry of Finance (Bundesministerium für Finanzen). The tax authority lets businesses know when they need to prepare the electronic SAF-T document for inspection. Businesses must be technically ready to create it in electronic XML format and present it to inspectors promptly.
It should be noted that incorrect data reporting or failure to submit the SAF-T may result in fines or criminal liability for taxpayers.
The required file structure on SAF-T AT is:
- Header
- Enterprise master files:
- General Ledger, Customer, Supplier, Owner master files, etc…
- General Ledger Entries
- Inventory Stock Levels
- Source Documents
- Asset Statement
Sources
