Modified on Fri, 19 Jan at 10:40 AM

From January 1, 2024, companies were required to use a digital sales system capable of exchanging data in the SAF-T format.

SAF-T, which stands for Standard Audit File for Tax, is an international standard for electronic exchange of reliable accounting data between businesses and tax authorities. The purpose of SAF-T is to facilitate efficient and standardized communication of financial information, making it easier for tax authorities to perform audits and ensure compliance with tax regulations.

The SAF-T format typically includes detailed information about transactions, general ledger entries, and other relevant financial data. This standardized file format aims to streamline the auditing process, reduce errors, and enhance transparency in tax reporting. Different countries may have their own versions or adaptations of SAF-T to suit their specific tax regulations.

The implementation of SAF-T is often part of broader efforts to digitize and automate tax-related processes, improving the accuracy and efficiency of financial reporting and tax compliance. It provides a structured way to transmit financial data electronically, making it easier for both businesses and tax authorities to manage and exchange information.

Was this article helpful?

That’s Great!

Thank you for your feedback

Sorry! We couldn't be helpful

Thank you for your feedback

Let us know how can we improve this article!

Select at least one of the reasons
CAPTCHA verification is required.

Feedback sent

We appreciate your effort and will try to fix the article