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Lithuania SAF-T July 2018

  • Mar 13, 2018 | Richard Asquith

Lithuania SAF-T July 2018

Lithuania is to launch its delayed Standard Audit File for Tax (SAF-T) in July 2018.

SAF-T was original introduced to the country in 2016 for invoice listings and transport documentation. But this was effectively just an e-invoice reporting requirement. The third requirement, SAF-T accounting transactions, was delayed from 1 January 2017. Initially, only resident companies with a turnover about €8m will be required to submit SAF-T on request. This will be reduced to €0.7m. The new on-demand requirement will launch in July 2018, and will be for 2017 data.

SAF-T was developed by the OECD in 2005 to help worldwide tax authorities share tax transactional information with companies on a harmonised basis. It has been adopted in countries such as: Portugal, France, Austria, Luxembourg and Poland.

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VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which won International Tax Review's 2020 Tax Technology Firm of the Year. Richard trained as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.