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Portugal Adopts SAF-T Standard for Electronic Fiscal Document Declarations
Portugal has implemented the SAF-T standard for electronic fiscal document declarations, joining a list of European countries to widely adopt this system. The Standard Audit File for Tax (SAF-T) is a data file based on the XML standard used internationally for the electronic interchange of fiscal information.
What is SAF-T?
The Portuguese tax authority, Autoridade Tributária e Aduaneira (AT), has recognized three distinct SAF-T documents in the Portuguese schema called SAFT-PT:
- Invoicing Documents
- Accounting Documents
- Transport Documents
The SAF-T accounting file consolidates all necessary information to facilitate the submission of Simplified Commercial Information or the Annual Accounting and Tax Information report electronically.
Mandatory Requirements
Under Portugal’s regulations, all private and public companies engaged in commercial, industrial, or agricultural activities must submit their electronic reports using the SAF-T format. The mandatory data included in the SAF-T accounting file includes:
- A list of items
- Customers
- Suppliers
- VAT regimes
- Accounting entries
- Chart of accounts
Data Security and Retention
To ensure the integrity and confidentiality of the information, it is mandatory to encrypt the SAF-T accounting file before submission and retain it for a legal period of 15 years.
EDICOM’s SAF-T Solution
EDICOM, a certified solution provider, has developed an electronic invoicing, electronic accounting, and VAT declaration system that meets the requirements established by Ordinance No. 363/2010 and 340/2013.
The company’s SAF-T solution simplifies, centralizes, and automates electronic communications with Portuguese authorities, integrating with a company’s ERP or accounting system to generate structured formats required for submission. The solution also stores electronic documents securely for the legally required time using EDICOM’s LTA storage solution, which ensures long-term integrity of documents.
Benefits of SAF-T Adoption
Portugal’s adoption of SAF-T has streamlined financial reporting requirements, reduced administrative costs, and enhanced data control and organization for taxpayers.