Lithuania SAF-T July 2018
- Mar 13, 2018 | Richard Asquith
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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