Changes in SAF deadlines for small and medium-sized enterprises!

Recent amendments to the Tax Law entail serious consequences and will require structural changes in financial departments of companies – also in the area of information systems. This is because of the recent obligation to generate a Standard Audit File.

Large companies, that is,  those companies which annually employ on average more than 250 people at a time are obliged to submit this file is from July 1. This obligation will be imposed also on small and medium enterprises – as it turns out – earlier than planned. It transpires that small and medium-sized enterprises will have to submit monthly VAT records reports. Currently, the time frame is as follows:

1) From 1 July 2016 – large companies employing more than 250 people or with the annual turnover exceeding 50 million euro

2) From 1 January 2017  – small and medium-sized companies employing from 9 to 250 people or having the annual turnover between 2 and 50 million euro (an obligation to submit VAT records)

3) From 1 January 2018 – small and medium-sized enterprises and the remaining companies in the full range of structures *

The described legislative changes are a considerable challenge. To generate the file required by government officials a smart solution is needed, not burdening the internal ERP system, or capable of drawing information from other sources.

Standard Audit File – Frequently Asked Questions!

*Based on Article 193a, appended to the Act of August 29, 1997. – Tax Ordinance (Journal of Laws of 2015. item 1649)