- Phased Implementation of SAF-T UA: Ukraine is adopting the Standard Audit File for Tax (SAF-T UA) in stages, with annual reporting for large taxpayers becoming mandatory on January 1, 2025, and full compliance required from all taxpayers by 2027. This initiative aims to enhance tax compliance through digital transformation.
- SAF-T UA 2.0 Features: The recent SAF-T UA 2.0 version simplifies the XML structure by reducing mandatory fields and aligning with national accounting standards. It enables detailed reporting on general ledger entries, sales and purchase ledgers, asset movements, and tax reconciliation, facilitating easier adoption and consistency in financial reporting.
- Compliance Requirements and Deadlines: Large taxpayers must submit SAF-T reports on demand within two days, with annual submissions starting in 2025. By 2027, all VAT-registered businesses will need to comply with periodic SAF-T submissions. Companies are encouraged to assess their accounting systems for SAF-T compatibility to avoid penalties and ensure smooth compliance.
Source RTCsuite
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