SAF-T is an international standard for electronic exchange of accounting data from taxpayers to the tax authorities. It significantly reduces the time and cost of tax inspections both for tax authorities and companies.
Romania SAF-T will enable the authorities to have direct electronic access to the companies’ VAT returns and invoices. They will be able to check in real time if there are problems or not. According to the tax authorities, SAF-T will also eliminate certain reporting obligations. No other detail has been shared yet.
The development of SAF-T was first set to start in March 2020 but the Romanian Government postponed the implementations due to the covid-19 pandemic which caused a financial crisis in the country.
The Unofficial English Translation of the Publication:
ANAF will complete the development of the SAF – T information system in July 2021
The National Agency for Fiscal Administration signed the development contract of SAF-T computer system, and its completion is planned for July 2021.
During January-February, consultations will take place between the Ministry of Finance and National Agency for Fiscal Administration with representatives of the business environment, accounting software developers and CECCAR, to ensure an understanding of common implementation of the system. The consultations will also target analysis of critical elements of the system: SAF-T capabilities, impact of changes on the internal systems of the companies, the flow of the fiscal control process, the standard SAF-T, data type, etc.
The deadline for reporting the SAF-T file by companies will be defined based on the analysis carried out during the consultations, the experience of other tax administrations but also the real possibilities for adjusting IT systems by companies.
We remind you that the National Agency for Fiscal Administration (ANAF), as Beneficiary, implements with the support of the Ministry of Finance the project entitled „Strengthening the capacity of the National Agency for Fiscal Administration to support modernization initiatives ”- SIPOCA code 604.
The overall objective of the project is to strengthen the Agency’s capacity to support modernization initiatives, through introduction of electronic public services that optimize business-oriented decision-making processes, including by implementing a standard international audit file for all economic operators.
Digitization and application of standards in collaboration between the tax administration and taxpayers increase the degree of mutual trust by ensuring a high level of transparency and predictability.
SAF-T will contribute to ensuring equity in the conduct of economic activities, as well as improving voluntary compliance by reducing the effort of both parties regarding the allocation of human and material resources.
Over the next few months we will continue to inform taxpayers about implementation of SAF-T, in order to prepare them for compliance with the requirements of export of the standard tax control file.