- Ukraine is advancing in digital tax compliance with the phased implementation of SAF-T UA
- SAF-T UA was optional in 2023 but will be mandatory for large taxpayers from January 1, 2025, and for all taxpayers by 2027
- SAF-T UA 2.0, released in November 2024, simplifies the XML structure and aligns with national accounting standards for easier adoption
- SAF-T UA is based on the OECD-standard XML schema and includes detailed reporting on various financial transactions
- Taxpayers may need to submit SAF-T reports with only two days notice during tax audits
- Timeline for SAF-T UA implementation starts with large taxpayers in 2023, extends to mandatory annual reporting for them in 2025, and includes all taxpayers by 2027
- The SAF-T standard is a growing global standard adopted across Europe for improved tax reporting transparency and efficiency
- Ukrainian businesses should check their accounting and ERP systems for SAF-T compatibility to meet upcoming mandatory reporting deadlines
- Early adaptation to SAF-T UA 2.0 will help businesses comply efficiently and avoid penalties
Source: rtcsuite.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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