- SAF-T is an electronic reporting standard in Lithuania for tax and accounting data exchange.
- Introduced in phases starting in 2016, mandatory for all VAT-registered businesses by January 2020.
- SAF-T records must be submitted upon request from tax authorities, not periodically.
- Mandatory for all VAT-registered businesses regardless of size or industry.
- Lithuanian SAF-T system includes components like i.SAF for VAT invoice data and i.SAF-T for accounting transactions.
- SAF-T files must be in a predefined XML format.
- Businesses must ensure their accounting software is SAF-T compliant.
- Applies to domestic and foreign businesses conducting taxable activities in Lithuania.
- Compliance helps avoid penalties and aligns with digital tax regulations.
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.
