ONE solution for your multiple country SAF-T reports.

08-06-16 | Blog

Most multinational enterprises (MNEs) have one or more subsidiaries operating in countries where SAF-T reports are mandated. Is it possible for MNE’s to have an efficient process for producing these compulsory government reports like SAF-T report for Portugal, France’s Fichier des écritures comptables, SAF-T FAIA reporting for Luxembourg, etc?

TJC Group recognizes the need for a single solution for all SAF-T country reports requirement so MNE’s will save resources, have confidence in data integrity, and have a consistent approach across all subsidiaries’ SAF-T reports. We started working on a solution for producing SAF-T OECD reports in 2010. Over the years, we added country versions as and when their government announces the new obligations for tax audit reports (i.e. France (FEC: Fichier des écritures comptables), Portugal, Luxembourg (FAIA)). This will allow you to use a single tool for all your company’s SAF-T reports submission. Our development partnership with Taj, a part of the Deloitte Network, gives us access to timely information on any upcoming country requirements for SAF-T report and provides the tax and audit competence needed to validate the SAF-T schema mapping to the SAP tables for our solution.

We aim to develop a SAP ABAP Add-On solution that will enable companies to extract, validate, and analyse the data then submit the SAF-T report on time in XML or any other required format. The goal is also to lessen the number of steps required to prepare the SAF-T reports but still give you the confidence of the data integrity and consistency of your reports.*

Country tax administrations will continue to apply pressure on corporations for better accounts transparency and internal control procedures. They will all be following and/or adopting the guidance notes released by the OECD over a period of 10 years on the standardization of tax compliance reporting as part of a project to eliminate BEPS (Base Erosion and Profit Shifting) or transfer pricing. This project is widely supported by the OECD and G20 members, developing and developed countries.

Therefore, it’s not surprising that three more countries will be implementing mandatory SAF-T reports very soon: Spain, Poland, and Norway. On 1 September 2016, SAF-T for Poland/JPK (Jednolity Plik Kontrolny) reports will need to be submitted by Polish taxpayers with over 250 employees or €50 million in sales revenue. The Norway government has also asked their taxpayers to comply with the submission of SAF-T reports.

We are already working on the country plugin for SAF-T JPK for SAP users and this will be ready by Summer 2016. Spain and Norway country plugins come next.

*Follow up post on 5 key criteria SAP users need to consider when choosing a solution for preparing SAF-T reports.

Sources: 

Article from the OECD Forum 2016 by the Director of the OECD’s Tax Policy and Administration
OECD Tax Administration page
Norwegian SAF-T Financial Data Documentation