Luxembourg SAF-T

Luxembourg introduced the Standard Audit File for Tax (SAF-T) on 1 January 2011.

Luxembourg’s version of SAF-T is FAIA (Fichier Audit Informatisé Administration de l’enregistrement et des domaines). It is limited to resident companies subject to the local chart of accounts. There is a reporting threshold of €112,000 per annum.

It is only required on demand from the tax authorities, generally prior to a full audit. FAIA is an XML-format report of accounting transactions, but may also be delivered in XBRL or DBF.  It is based on the 2.0 OECD SAF-T model.

Luxembourg SAF-T audit files includes:

  • Header
  • Masterfile
    • General Ledger Accounts
    • Customers
    • Suppliers
  • General Ledger Entries
  • Source Documents
    • Sales Invoices
    • Purchase Invoices

There are three schemas:

  1. FAIA_Full Schema: for the majority of companies with full accounting software packages
  2. FAIA Reduced: for businesses using separate accounting and invoicing software
  3. FAIA Reduced B: only using accounting software

About SAF-T

SAF-T is an electronic schema developed for the efficient exchange of information between the tax authorities and businesses. It was created by the Organization for Economic Cooperation and Development in 2005 as a standard to be used globally to ensure consistency from country-to-country to facilitate exchange of data between tax authorities. The file requirements are expressed using XML, although the EU does not specify the exact file format.

There are generally five reporting requirements:

  • 1.General ledger and supporting journals
  • 2. Accounts payable, including supplier master data and invoices
  • 3. Accounts Receivable, with customer master data and invoices
  • 4. Warehouse inventories, and master data
  • 5. Fixed assets ledger, including amortisation

Need help with your UK VAT compliance?

Researching U.K. VAT legislation is the first step to understanding your VAT obligations. Avalara can help your business comply with U.K. VAT requirements and manage your obligations, regardless of your business size or type.

Total results : 4
avalara:content-tags/asset-type/blog-post,avalara:content-tags/primary-blog-tags/vatlive/location/europe/luxembourg,avalara:content-tags/primary-blog-tags/vatlive/luxembourg,avalara:content-tags/tax-type/vat
Nov-8-2022

UK VAT Guide - Avalara

avalara:content-tags/asset-type/blog-post,avalara:content-tags/primary-blog-tags/vatlive/location/europe/luxembourg,avalara:content-tags/primary-blog-tags/vatlive/luxembourg,avalara:content-tags/tax-type/vat
Jul-5-2022

North America Country VAT Guide - Avalara

avalara:content-tags/asset-type/blog-post,avalara:content-tags/primary-blog-tags/vatlive/location/europe/luxembourg,avalara:content-tags/primary-blog-tags/vatlive/luxembourg,avalara:content-tags/tax-type/vat
May-31-2022

Finance and tax compliance: make your business grow faster

avalara:content-tags/asset-type/blog-post,avalara:content-tags/primary-blog-tags/vatlive/location/europe/luxembourg,avalara:content-tags/primary-blog-tags/vatlive/luxembourg,avalara:content-tags/tax-type/vat
Jun-1-2022

Germany excludes UK tourist operators from VAT TOMS