SAF is also obligatory for non-business entities!
According to the general interpretation of the Tax Law, dated 20 June 2016, published by the Ministry of Finance, the obligation to submit financial and accounting information in the form of the Standard Audit File has also covered entities not having the status of a company. These include such institutions as local governments, foundations, associations and non-governmental organizations.
Adopted deadlines and transition periods for these entities are to meet the criteria set by the Ministry of Finance for companies. What is, therefore, taken into account is the data from Art. 104 – 106 of the Act on Freedom of Economic Activity, such as: annual net turnover and number of employees. Consequently, if an entity represents values corresponding to small and medium-sized company, it will be required to meet the deadlines obligatory for SMEs.
Check out our SAF Essentials Kit! For more information about the Standard Audit File:
and in the website: https://apollogic.com/services/standard-audit-file/.
- On 01/07/2016