In Portugal, in addition to the existing monthly SAF-T submission listing of all sales invoices for VAT purposes, businesses are required to provide annual accounting file in SAF-T format. According to a recent announcement from the Portuguese tax authorities, Despacho n.º 45/2018-XXI from 2 February 2018, the obligation to provide an annual file for completion of IES is delayed with one year.
The annual accounting SAF-T obligation for IES will start now in 2019 and will cover the accounting period of 2018 or earlier years. The data requested information will be used to improve and perform more efficient and effective corporate tax audits.
Two separate files are the mandatory obligation for Portuguese SAF-T purposes:
- Monthly SAF-T file including invoicing data and transactional data about sales and purchases made in Portugal. It contains as well master data and a list of products. Submission is mandatory on a monthly basis together with the VAT return.
- The annual SAF-T file with accounting information must be produced yearly and upon request of the authorities. The inclusion of taxonomies in the structure of SAF-T (PT) aims to simplify the completion of the IES Informação Empresarial Simplificada.
SAP add-on Portugal is ready to demo
We offer a fully SAP-integrated solution to submit the requested tax data in an automated way. It contains a cockpit in order to create on request audit files including e-submission with signature and encryption of XML file.
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The next SAF-T wave
The following countries might be in the next wave: Germany, UK, Ireland and the Czech Republic. The Netherlands and Belgium are experimenting with another electronic format called “Transaction Network Analysis”, TNA is an overall European Commission initiative and 8 other countries have already joined.
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SAP add-on solutions for SAF-T
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Written by Richard Cornelisse
Richard advises multinational businesses in improving the efficiency and effectiveness of their Indirect Tax Function and Tax Control Framework.
He started his career as a manager at Arthur Andersen and then became a partner in EY where I led the indirect tax performance team for Netherlands and Belgium. Currently, he is a senior managing director of KEY Group.
Richard has over 20 years’ experience advising clients on international VAT issues. He is specialized in the tax aspects of financial transformations, shared service center migration, and post-merger integration work. Richard is also somewhat of a mentor, giving back to the profession. If you are interested in conversation and discussion, please feel free to contact him.