- SAF-T (Standard Audit File for Tax) is an OECD-introduced, XML-based electronic format for standardized exchange of accounting and tax data between companies and tax authorities.
- It aims to streamline audits, reduce manual errors, and improve traceability, with each country adapting the standard to its legal requirements.
- Key benefits include global standardization, operational efficiency, improved data quality, interoperability, cost reduction, and enhanced transparency.
- Common challenges involve system integration, data governance, regulatory differences, and data security.
- A SAF-T file typically includes a header, master data, accounting movements, and country-specific annexes, with reporting requirements varying by country.
Source: edicomgroup.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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