The Standard Audit File for Tax (SAF-T) is an international standard for electronically exchanging financial and accounting data between businesses and tax authorities.
As SAF-T reporting evolves, it significantly influences business operations. Meeting digital tax obligations is essential for enhancing compliance and managing automated audits.
This standard streamlines the auditing process by requiring businesses to gather and format financial data into XML files, which are submitted to tax authorities periodically or upon request.
Countries adopt these obligations at varying speeds, and businesses face compliance challenges and transformation opportunities. Navigating tax regulations, assessing impacts on data and processes, and establishing a clear strategy are crucial for success. Failure to meet these requirements can lead to unpaid invoices, increased tax penalties for missed invoices, and the denial of your input VAT deduction.
KGT has developed SAP add-ons for countries that have implemented SAF-T, providing enhanced functionality to SAP to meet new requirements promptly. These add-ons are operational in well-known multinational companies. Within the KGT namespace, there is a new KGT cockpit in SAP that enables users to extract and transform all necessary files into a legally compliant format. Additionally, these add-ons include controls to ensure that your SAF-T file, tax determinations, and entries adhere to tax regulations. All data remains securely within SAP, and access is restricted to your employees only.
As a recognized leader and long-standing official 'SAP Build partner', KGT specializes in developing SAP add-ons for VAT reporting, EC listing, e-invoicing, and SAF-T reporting. Our solutions support a company's tax control framework and include features such as Intrastat reporting, VAT number validation, and VAT data analytics:
- Enhance your SAP tax determination process with the KGT SAP add-on
- KGT SAP add-on for managing all your e-invoicing needs
- KGT SAP add-on for Validating VAT Numbers in SAP
- SAP add-on for EU VAT and EC listing reporting
- KGT SAP add-ons for managing all your Intrastat needs
- SAP add-on for VAT data analytics
- Implementing and configuring SAP DRC
We provide comprehensive tax solutions that support our clients throughout their entire tax lifecycle within SAP. Our services are utilized by reputable multinational companies across Europe and beyond.
KGT is a SAP partner for PE services and SAP Build partner, and to become an SAP partner, strict due diligence requirements must be met, including having certified SAP consultants. You can find us at: https://partnerfinder.sap.com/profile/0001925409
