SAF-T PT: What you need to know

Colbi



What is SAF-T?

The SAF-T or SAFT-PT file is a digital document, in XML format, which gathers all the relevant commercial, tax and accounting documentation of a company for a given period of activity.

The monthly reporting of commercial information provided by companies to the Tax Authority has been mandatory through the SAF-T invoicing file since 2013.

The annual report of tax and accounting information will be made, mandatorily, through the SAF-T accounting file as of 2021.

Thus, there are 2 types of SAF-T files that are most used: the SAF-T Invoicing file and the SAF-T Accounting file. After understanding the purpose of each, it is even easier to understand the differences between them, so let's see:


SAF-T Invoicing file

It is through the SAF-T Invoicing file that the monthly invoicing of a company is communicated to the Tax Authority.

The file can be exported and inserted manually in E-fatura or sent automatically. Col.bi facilitated this process with the possibility of automatic validation and sending to the Tax Authority, thus avoiding manual errors of information reporting and also allowing you to focus your time on other more important matters of your business.

The communication of this file is accepted as valid until the 12th day of the following month. For example, the SAF-T regarding the invoicing for the month of September must be communicated to the TA until the 12th of October. If the communication is not made within the deadlines set by the Tax Authority, you may be subject to a fine that can vary between €200 and €10.000.


The SAF-T invoicing file must contain the following data:

• Company Identification: name, tax number, address, country, city, website, and email;

• Client identification: name, address, city, country, and TINs;

• Product and/or service information: type and designation of the products and/or services;

• Invoicing information: invoices, simplified invoices, credit and debit notes, receipts, waybills, estimates, purchase orders, proforma invoices, service sheets, consignment notes, table inquiries, and other documents that occur during the sales process.


SAF-T Accounting File

The SAF-T Accounting file is used, briefly, for pre-filling tax returns (e.g. IES) and conducting audits. The SAF-T for accounting is more complete because it covers the entire life of the company that is reflected in its accounting.

Until recently, it was only necessary to submit the SAF-T Accounting file to the TA for inspection purposes. As of 2021, it will be required to be reported annually, with information relating to the tax year 2020.

With col.bi, it is easy to visualize all the company's information and ensure the tax compliance of your SAF-T files before they are sent. Col.bi is a digital ecosystem that allows you to analyze and navigate, in a deep and agile way, in all the information contained in the SAF-T files before they are submitted to the Tax Authority. In this way, it ensures the compliance of that information in advance and reduces the risk of tax litigation.

The compliance of its SAF-T Accounting file is ensured through a set of auditing rules and SVAT certification rules, also obeying the taxonomy logic foreseen in the SAF-T Ordinance.

In short, col.bi performs a financial audit of the company, identifying errors or other inconsistencies in the information reported to the Tax Authority.


The col.bi also allows:

• Bringing all of a company's transactions together on one platform;

• Do massive data processing and validation;

• Identify ERP inconsistencies;

• Infer evidence of fraud;

• Identify gaps in internal control;

• Identify errors and inconsistencies in the information being reported and validate it.

• Explore information in an intuitive, attractive and graphic way;

• Make appropriate management decisions.