A SAF-T (Standard Audit File for Tax) is a standard for the electronic exchange of accounting data from organizations to a national tax authority in the EU. It was first implemented back in 2005 by the OECD (Organisation For Economic Co-Operation and Development) to facilitate the exchange of data consistently electronically.
Currently in place within: Lithuania, Poland, Austria, France, Luxembourg, Portugal, Norway.
The Standard is now being more adopted within more European countries as the means to file tax electronically is increasing. It describes a set of messages for data exchange from accounting software and national tax authorities or auditors.
SAF-T requirements are unique to each country that uses them.
There however are 5 general reporting requirements for a SAF-T as shown below:
- Supporting journals and general ledger
- Accounts payable, including supplier master data and invoices
- Fixed assets ledger, including amortisation
- Accounts receivable, with customer master data and invoices
- Master data and Warehouse inventories
If you were selling via Amazon FBA you would have to factor this into your documentation to the tax authorities in the countries where you must be registered as a seller holding goods where a SAF-T is required. Anytime you are holding goods within an EU country it is your obligation to be VAT registered there.
For example, If you are holding goods within a fulfillment centre in Luxembourg then you must get VAT registered there and ensure that you are providing the correct accounting data from your sales to the relevant tax office in Luxembourg.
Luxembourg’s version of the SAF-T is FAIA (Fichier Audit Informatisé Administration de l’enregistrement et des domaines). The reporting threshold is €112,000 per annum.
Each of the countries undertaking a SAF-T all has their own audit file data requirements.
Cross Border VAT software automatically captures this information for you through the form of a report so you can clearly have the details necessary for your documents. There is no work for you involved what so ever other than focusing on generating more sales.
CBV is here to ensure your life is VAT stress free!
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