Sovos SAF-T Generation

Produce Full Range of SAF-T Reports Compliant with Different Jurisdictional Requirements

KEEP PACE WITH EVOLVING SAF-T SCHEMAS

Generate SAF-T output, ready for timely submission

The Organization for Economic Co-operation and Development (OECD) first introduced the Standard Audit File for Tax (SAF-T) in May 2005. Since then, a growing number of tax authorities have embraced it as a way to get a broad view of companies’ tax affairs. Many of the countries that have introduced SAF-T so far have also applied their own individual interpretation of the original, or subsequent 2010 version, of the SAF-T structure. However, the quantity of diverse data required by these unfamiliar, jurisdiction-specific SAF-T schemas makes it challenging for companies to meet their obligations. A tax authority’s request also leaves a relatively short window for companies to collate the data and present it in the prescribed format, especially if they need to do this across jurisdictions and in different formats.

Sovos SAF-T generation maps data into the correct schema, ensuring that format requirements are met. There is also the value of our complementary SAF-T analytics to ensure the final SAF-T generated comprises robust data and is truly submission-ready. This powerful combination of modules in the Sovos SAF-T solution provides peace of mind that the SAF-T report sent to the tax authority will satisfy its requirements for more detailed information, without need for additional scrutiny.

Consolidate and present data in country-specific, legal XML structures

Deliver the outputs required by each individual tax authority that has introduced SAF-T

Expand coverage as new jurisdictions introduce a SAF-T requirement

Ensure data is fully consolidated from all relevant sources to generate the SAF-T report in the correct legal structure

Produce valid, submission-ready content when used in conjunction with APR SAF-T analytics.

Provide a repository of the SAF-T files generated, so they can be accessed at a later date.

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Used together with Sovos’ SAF-T Analysis module, with its application of data accuracy and fraud inference rules, this ensures appropriate action can be taken to address any anomalies and correct or explain errors. It also provides greater assurance that SAF-T submission will not result in further tax authority scrutiny.