Are We Able to Deliver on SAF-T Format Within the Deadline?

SAF-T has extensive content and format requirements for transferring accounting and tax data. Companies will have to ensure that requested information is available in the database and can be extracted in an appropriate manner.

Our experience is that there is not always enough understanding among companies about how comprehensive SAF-T is and what consequences the introduction can have for tax reporting.

"There is limited understanding of the complexity the introduction of SAF-T means for our business. The system architecture, our work processes and the way we organize the Finance and Tax function are highly affected. "

– SAF-T responsible in one of Norway's largest companies

Larger businesses often have a complex organizational structure, process management and system architecture. These businesses should pay special attention to the fact that the resource requirement for implementing SAF-T can be extensive.

A typical example of increased complexity in a SAF-T implementation involves the use of proprietary accounting systems. In these cases, it may be necessary for the company to develop SAF-T functionality themselves, optionally using third party reporting solutions.

Another example is the use of several different front end systems (such as customer billing in billing systems). The accounting information from multiple source systems must be compiled in the SAF-T report and included in a single SAF-T report, or linked together using unique identifiers so that the authorities can, in turn, compile the information.

We recommend already now starting the work of identifying challenges and potential solutions for how your business can manage to report on SAF-T format. Click here to read more about how Deloitte can assist with this.

Current services from Deloitte:

• taxCube

• Quick Scan

• Readiness Review

• Data Validation

• Verification of standard account plan and VAT codes

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