What is SAF-T?
SAF-T Accounting is a standard data format for the exchange of accounting data. SAF-T stands for “Standard Audit File - Tax”. The main purpose of SAF-T is to make it easier for the companies who have bookkeeping obligations to submit accounting information to public authority on request. To put it in a simple way, SAF-T is a standard format to submit details general ledger (GL) transactions and vendor/customer reports to the local tax authority.
The requirements to be able to deliver accounting data in SAF-T format applies to all the companies that have bookkeeping obligations and use an electronic accounting system. Companies that have a turnover less than NOK 5 million a year are exempted from the requirement. However, if those companies do have bookkeeping information available electronically, the requirement will still apply to them.
SAF-T doesn’t replace the normal submission of tax return and VAT return. Companies who have bookkeeping obligations only need to submit accounting information in SAF-T format on request by local tax authority. It needs to be submitted through Altinn with form RF-1633 SAF-T Accounting (SAF-T Financial).
The requirement applies to accounting periods that starts from 1st of January 2020 and onwards. The companies that have bookkeeping obligations are not required to disclose accounting information in SAF-T format for previous accounting periods.
Regarding the accounting system which is used to generate the SAF-T format, the company takes responsibility for any possible discrepancies in accounts and VAT codes to be converted to SAF-T standard CoA and VAT code in the export file.
It is achieved by mapping CoA and VAT codes against standard codes. On the links below, you will find information about standard CoA from local tax authority.
You can find more information about SAF-T on the website of The Norwegian Tax administration here.
Not sure about how SAF-T impact your business and needs some advice? Please contact your local consultants or fill out the form on the first page, and one of our consultants will reach out to you.
Mapping of CoA and VAT codes
Under the requirements of SAF-T, the company needs to map its own CoA to the Norwegian standard CoA published by The Norwegian Tax Administration. Mapping can use either 2-digit or 4-digit standard chart of accounts or alternatively P/L accounts.
Regardless the choice of SAF-T solution, the company itself must ensure CoA and VAT are mapped correctly. Our auditors and accounting consultants have experience with various industries and systems and can therefore assist you to ensure mapping is done correctly.
Convert file to XML format
For companies whose accounting systems don’t have the functionality to generate the SAF-T file, BDO has developed its own solution to convert client’s data to SAF-T format. It can be suitable for companies who use older, self-developed or lesser-used versions of accounting systems. For Norwegian-registered foreign companies (NUF), this can also be an option to avoid high system development costs.
Information required to send to us is listed below:
- Company and system information
- Trial Balance
- Customer and vendor accounts including detailed information
- GL detailed transactions for the relevant period
We will receive and store your data in a security way and assist you with mapping against the standard CoA and VAT codes.