What is a SAF-T?

Key principles of a SAF-T: 

• Standardisation: Ensures that travel expenses and related data are formatted according to standardised guidelines.
• Compliance: Helps organisations comply with local and international tax regulations.
• Automation: Streamlines the process of data submission to tax authorities.
• Auditability: Facilitates audits by providing transparent and structured data.

Example of a SAF-T

A company operating in a country that mandates SAF-T compliance must submit its travel expense records, including receipts and transaction details, in the SAF-T format to the tax authority at specified intervals. (View the list of countries using SAF-T) This submission includes detailed information about business travel expenses, ensuring that all expenses are properly documented and compliant with tax laws.

The benefits of a SAF-T

• Stay compliant - Ensures that travel expense reporting adheres to legal and regulatory requirements.
• Shine a light on spending - Increases transparency in financial reporting and expense management.
• Streamline the reporting process - Reduces the administrative burden of manual reporting by automating the data submission process.
• Be ready for any audit - Enhances the organisation’s readiness for tax audits by maintaining well-structured and easily accessible data.

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