- SAF-T Implementation and Purpose: Denmark introduced the Standard Audit File for Tax (SAF-T) in July 2022, mandating businesses to digitally report tax and financial data in a standardized format to enhance transparency and compliance with the tax authority, SKAT, aligning with the OECD SAF-T model.
- Entities and Compliance Timeline: All businesses maintaining bookkeeping systems must comply with SAF-T, which is submitted upon request by tax authorities. Key compliance deadlines include the mandatory adoption of digital accounting systems starting February 2023, with full compliance required by July 2024 and January 2025 for different business types.
- Submission Protocols and Business Preparedness: Businesses must submit SAF-T files through authorized channels like TastSelv Erhverv, and compliance is demand-driven. Companies are advised to update accounting systems, monitor regulatory changes, and utilize validation services to ensure readiness for SAF-T submissions, thus facilitating smoother audits and regulatory alignment.
Source RTCsuite
Click on the logo to visit the website
