Ukrainian banks, with the participation of the State Tax Service, are preparing to implement SAF-T UA.

The State Tax Service of Ukraine has announced its readiness to assist banks in adapting to the new requirements for filing financial statements in the SAF-T UA format. A special banner has been added to the STS's official website to explain the transition process to the new standard. SAF-T UA is a standardized electronic file containing tax and accounting data for businesses, which should simplify information verification by tax authorities and increase the transparency of financial transactions.

The introduction of this format is driven by the need to strengthen control over financial flows and minimize tax risks. This primarily concerns the banking sector, which plays a key role in regulating cash flows and can act as an intermediary for shady financial schemes. The implementation of SAF-T UA should significantly reduce opportunities for tax evasion and streamline the data verification process.

This initiative is part of a global process of digitalization of tax administration, bringing Ukraine closer to European standards of financial control.

In the future, a similar format may (will!) be extended to other areas of business, especially to companies working with large volumes of financial transactions.

We are confidently moving towards a bright future...

The SAF-T (Standard Audit File for Tax) format is an international standard for the electronic exchange of tax and accounting information, which was developed by the OECD (Organisation for Economic Co-operation and Development) and implemented in a number of countries.

The main goal is to simplify tax audits, minimize reporting errors, and strengthen control over financial transactions.

World analogues and their application

1. Portugal was one of the first countries to implement SAF-T in 2008. Here, the standard applies to all companies maintaining accounting records and covers a wide range of tax information, including invoices, payment documents, and records of the movement of goods.

2. France – since 2014, has required companies to submit reports to tax authorities in the FEC (Fichier des Écritures Comptables) format, which is based on the principles of SAF-T and is used during tax audits.

3. Norway – has been using SAF-T for VAT reporting and accounting since 2020. Companies are required to store and submit data upon request by tax authorities.

4. Poland – since 2016 has introduced JPK (Jednolity Plik Kontrolny) – the Polish version of SAF-T, which applies to VAT reporting, banking transactions and inventory accounting.

5. Lithuania – in 2017, made SAF-T mandatory for companies with annual turnover above a set threshold.

6. Romania – introduced SAF-T RO in 2022, extending it to large companies and then to small and medium-sized businesses.

The Ukrainian version of SAF-T UA is part of the trend toward digitalization of tax administration. Its main goal is to combat tax evasion, simplify interactions with the tax service, and expedite audits.

This means that soon our tax system will be in the EU....